On Monday, Olam re-test the support at $2.31 and closed at $2.32 with HIGH volume of 30.49 million shares traded.

A long upper shadow occurred.  This is typically a bearish signal (particularly when it occurs near a high price level, at resistance level, or when the security is overbought).

Both RSI & MACD are bearish as RSI trend downwards.

Important Resistance of Olam: $2.47

Immediate Support of Olam: $2.31

Currently prices are well below 20/50/100/200 days MA.

For the past 5 trading sessions, prices have been falling with high selling pressure and this is a bearish signal.

In fact, bears have attempted to pull the prices below the critical support of $2.31 with high selling pressure but failed.

The support at $2.31 is expected to be strong.

Watch the support at $2.31 for any consolidation before entry. Do not attempt to ...