June 20-24, TA for Olam

June 20-24, TA for Olam,

• Trend - Down (below 200D, 100D, 50D MA)
• Momentum - Oversold
• Candlestick - white hammer (bullish reversal signal)
• Volume - Slight below average
• Support - 2.53
• Resistance - 2.67

After the Olam share dilution at 2,60, this stock just continues to go down. Personally, the fundamental support at 2.60 should be strong but the selling pressure just keep up. Things to take note: it does not have above average selling pressure - indicate a possible bullish reversal trending with white hammer candlestick. Should stay NEUTRAL for this stock and watch out for stronger signal.