Olam: alert. Bullish breakout above $3, at new 52-wk high. If momentum continues, stock could test next resistance at $3.20 in near term. Nevertheless indicators looking very overbought; a better option may be to buy on dips particular when the next pullback occurs. $2.80 offers strong support.
We note that the Capital Group of companies has recently been buying aggressively from the open market, and their cumulative stake has crossed the 5% mark as of lunch time today.
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