Olam (technical)

Olam: we highlighted previously that the break of the $1.525 support-turned-resistance was a strong negative signal and could lead to sustained weakness. We see $1.40 as a weak support level, hence on a downward break, the counter could see further declines toward a firmer support level at $1.17 (drawing reference to the Mar 2009 lows). RSI and Stochastics, while oversold, show no signs of reversing back up yet.