On Friday, Olam re-test the resistance at $2.38 and closed at $2.32 with regular volume of 10.33 million shares traded.

During the past 10 bars, there have been 5 white candles and 4 black candles for a net of 1 white candle.  During the past 50 bars, there have been 18 white candles and 26 black candles for a net of 8 black candles.

Both RSI & MACD are flat as MACD lines are closely together.

Important Resistance of Olam: $2.47

Immediate Support of Olam: $2.31

Currently prices are resisted by 20 days MA.

Since Feb 2012, prices have been consolidating between the key supports of $2.21 and key resistance of $2.38.

The support at $2.12 is expected to be very strong.

Olam is not exactly a bullish stock thus we would suggest to buy only when prices are near to ...