Olam's technical analysis

Tagged: 

Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
    Posts
  • #17110

    Jonathan
    Replying to #

    Hi there,

    I read the latest morning note on Olam technical.
    A quick glace at the chart, doesn’t it also look like descending triangle with multiple lower highs?

    #17187

    Research Department
    Replying to #

    Hi Jonathan,

    Yes indeed, it was a descending triangle, but we were emphasising on the support at 2.18 and the hammer reversal candlestick formation. The long trade was not taken as the bullish follow-through failed to play out.

    https://www.stocksbnb.com/tech-pulse/technical-pulse-olam-international-ltd-2/

    With the benefit of hindsight, the 2.18 support was broken to the downside suggests further downside. Some key support areas to watch for possible rebound next is the 2.10 area followed by 2.04.

    Thanks.

    #17195

    Jonathan
    Replying to #

    thank you for the update.

    May I ask what sort of price action will be consider as bullish follow-through? Hit the 2.22 entry price?

    #19650

    kk
    Replying to #17195

    Hi;

    Now can buy Olam ?

Viewing 4 posts - 1 through 4 (of 4 total)

You must be logged in to reply to this topic.

Get access to all the latest market news, reports, technical analysis
by signing up for a free account today!