Singapore Stocks: Olam – initiate shorts
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After a climatic plunge and a small 3-bar pullback, Olam broke to new lows on increased volume. This looks bearish, so I took a short position @1.720 with a stop @1.755. Let’s see how it fares tomorrow. If it takes out my stop, then it will enter a narrow range or have a larger pullback. The R/R is in my favour.
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