Olam....

Today's home work is Olam.

 

This counter was the talk of the town a few months ago, I guess it has something to do with Temasek investment.

My arguement on this counter is relatively weak. Again on theoverview, it looks to me in counter wave period, The interesting part is that this counter has already completed B wave and is in the process of C. The funny part is that I do not see a 5-wave pattern on C. This should be the case as A is a 3-wave pattern, B is no question a 3-wave, and therefore C should be 5.

Another thing with the chart is that the reversal somehow show a double top formation. But it is difficult to substantiate. If the formation holds, then the counter has not yet seen bottom. It is likely to hit sub SGD1.00.