CFD Trading – Sell Olam Intl (O32.SGX) @ $1.65. Stop @ $1.72 and Target @ $1.52.

Olam Intl Stock Code O32.SGX

Price broke below the cloud two days ago and a price rally failed to move above the cloud, keeping the bearish trend intact. Conversion and Base lines had a bearish crossover, confirming the bearish trend. Lagging Span is below price of 26 days ago but is inside the cloud at the moment. MACD is turning bearish with the fast line already moving below the zero line. MACD also had given a bearish divergence warning, hinting of a possible price high in the making. We are expecting price to decline to the support level at $1.52 in the next 1-2 weeks

$1.65                 Sell
$1.52                 Price Target
$1.72                 Risk Management Stop
2 weeks Trade Duration

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