Olam: Technical Buy Call by UOB Kay Hian with 13% potential return. House note that BUY with TP of $2.59. The stock has retraced 15% from its recent high of $2.76 and prices are likely to rebound towards the area where the mid Bollinger band is.
Its Stochastics and CCI indicators suggest the stock is oversold and the CCI indicator has crossed above its signal line, suggesting there could be a follow through of the previous attempt ton rebound in the last trading session. Alternatively, investors may exit their longs if prices move below S$2.26. House institutional research has a fundamental BUY with $2.93 TP.
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