Olam International (SGX: O32) continuous downtrend has been persisting but recent technical indicate a revival of the bulls:
*Timeline of the trade is 3 weeks from the date issued.
*The resistance zone and the downtrend line remain a strong resistance, once prices breaks above these key resistance zone, Olam will likely test $1.52, which is at the 127.2% extension of the inverted head and shoulder.
Ichimoku Kinko Hyo
Red dotted line = 9 Periods Tenkan-Sen
Blue dotted line = 26 periods Kijun-Sen
Green Line A= 26 periods Senkou Span A
Pink Line B = 52 periods Senkou Span B
plotted 26 periods ahead
Black line = 26 periods Chikou Span. Lagging line
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