Olam

Olam: Analysts note that short sellers should take heed after Temasek's latest move to raise its stake in the commodity supply-chain play, with the SG state-owned investment fund now holding 19%, up from 18%. Olam's swing from its early low of $1.485 as it began trading ex-rights to rise as high as S$1.565 may be due to Temasek's buying. While Temasek didn't fully disclose its purchase prices, Olam's SGX filings for seven of the transactions, starting Dec. 18, show averages of $1.465-S$1.565. Most of the transactions were on days when the share price slipped below $1.50. The purchase prices may draw a line in the sand, suggesting solid support levels. SGX data show no Olam shares are available for lending to short sellers.