Olam Group's Share Price Forms Bearish Head-And-Shoulders Pattern, Chart Shows -- Market Talk

Dow Jones

2025/01/16

0131 GMT - Olam Group's share price forms a head-and-shoulders pattern on the technical chart which signals a potential reversal to a bearish trend from a bullish one, Phillip Securities Research's Zane Aw says in a research report. This follows the share-price's bearish movements, where it failed to hold above resistance at S$1.25 after breaching this level at the start of December 2024, the analyst says. The moving average convergence divergence indicator supports the bearish view, given decreasing momentum and dropping below the zero line, the analyst says. The share price is likely to pull back further if it breaks below support at S$1.14 and retest S$1.06, the analyst adds. Shares are unchanged at S$1.15. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

January 15, 2025 20:31 ET (01:31 GMT)

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(ronnie.harui@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  January 15, 2025 20:31 ET (01:31 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Olam Group's Share Price Forms Bearish Head-And-Shoulders Pattern, Chart Shows -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nOlam Group's Share Price Forms Bearish Head-And-Shoulders Pattern, Chart Shows -- Market Talk\n</h2>\n<h4 class=\"meta\">\n<div class=\"head\" \">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time smaller\">2025-01-16 09:31</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     0131 GMT - <a href=\"https://laohu8.com/S/VC2.SI\">Olam Group</a>'s share price forms a head-and-shoulders pattern on the technical chart which signals a potential reversal to a bearish trend from a bullish one, Phillip Securities Research's Zane Aw says in a research report. This follows the share-price's bearish movements, where it failed to hold above resistance at S$1.25 after breaching this level at the start of December 2024, the analyst says. The moving average convergence divergence indicator supports the bearish view, given decreasing momentum and dropping below the zero line, the analyst says. The share price is likely to pull back further if it breaks below support at S$1.14 and retest S$1.06, the analyst adds. Shares are unchanged at S$1.15. (ronnie.harui@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  January 15, 2025 20:31 ET (01:31 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0823414478.USD","symbol_name":"法巴經典能源轉換基金","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2503458983","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2503458983","pubTimestamp":1736991060,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0131 GMT - Olam Group's share price forms a head-and-shoulders pattern on the technical chart which signals a potential reversal to a bearish trend from a bullish one, Phillip Securities Research's Zane Aw says in a research report. This follows the share-price's bearish movements, where it failed to hold above resistance at S$1.25 after breaching this level at the start of December 2024, the analyst says. The moving average convergence divergence indicator supports the bearish view, given decreasing momentum and dropping below the zero line, the analyst says. The share price is likely to pull back further if it breaks below support at S$1.14 and retest S$1.06, the analyst adds. Shares are unchanged at S$1.15. 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This follows the share-price's bearish movements, where it failed to hold above resistance at S$1.25 after breaching this level at the start of December 2024, the analyst says. The moving average convergence divergence indicator supports the bearish view, given decreasing momentum and dropping below the zero line, the analyst says. The share price is likely to pull back further if it breaks below support at S$1.14 and retest S$1.06, the analyst adds. Shares are unchanged at S$1.15. (ronnie.harui@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  January 15, 2025 20:31 ET (01:31 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}