Olam (technical)

Olam: OCBC Technicals note possibility of further correction pressure after the stock initiated a strong bearish break below its 3 mth uptrend support and $1.90 support on significant volume yday. Notes MACD has just fallen below the centerline, suggesting that downside momentum is picking u p. Says the counter could possibly slip further towards the key base at $1.74 (key trough) in the weeks ahead. Sees resistance at $1.90.