Support 1: 1.73                       Resistance 1: 2.00

Support 1: 1.57                       Resistance 2: 2.09

Olam International has been going on strong since the rebound from 1.75 in June 2019. However, the stock has arrived near the psychological resistance of 2.00 as of Monday, 24^th June 2019. Entering into a long position now is considered a risky move as price has already moved way above market expectations.

Base on the technical factors presented, the stock will most likely head for a correction. The clue is in the potential stochastic oscillator’s overbought crosses. Should the cross occurs, the stock will very likely fall into a correction, and the best price to long is 1.81 as there is a strong area of demand over at the zone.

*Should the stock breaks above the resistance price level of 2.00 and close 2 strong bullish candlesticks above; there is a possibility it might extend to 2.10.

CHART LEGENDS

Red line = 200 periods moving average

Blue line = 50 periods moving average

Green line  = 22 periods moving average