Following up from previous SELL call made last Thursday 22 Aug 2013. Olam has indeed traded lower and consolidated above the 1.50 for the past 3 days. Today we have seen it broke below the 1.50 critical support level. More downside can be possible to 1.40 then 1.36 level. Resistance would now be 1.50 where there are huge sellers stacked now. Buyers got thrown off at 1.50 just now rapidly leading to sell down. Bearish as long as still below the 1.50 immediate resistance. Head and shoulder pattern bearish pattern mentioned in previous post.
Buy stop at 1.515
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