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Friday, 7 December 2012

Olam International: 7 December 2012, Friday, 9.05am

Olam International: 7 December 2012, Friday, 9.05am

Olam Technical Analysis Further Update:

Breached 1.49 and 1.465 respectively. With Volume

There were no selling on fear in November and December, with many market participants trying to catch a falling knife; there is no Longs killing Longs action yet; hence Olam has not bottomed yet. 

$1 and Sub-$1  the targets from here (refer to previous price projections based on Donovan's Technical Analysis).

+ My view:
From an objective Fundamental Analysis judgement, higher yielding notes will further erode away Olam's profits, deteriorating its fundamentals. Should worldwide recovery continue to persist, and interest rates rise without a commodities rise (commodities general price suppression) due to a tightening of USD back to US, highly-geared commodities companies could get double whammy.

Reference (Past Olam Analyses):


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