On Monday, GLP trend upwards and closed at $2.63 with LOW volume of 10.79 million shares traded.
Both RSI & MACD are bullish as MACD about to perform a golden cross.
Important Resistance of GLP: $2.66
Immediate Support of GLP: $2.46
Currently prices are supported by 20/50 days MA.
Since Jan 2012, prices have been well supported on the 50 days MA. Prices have been trending upwards on this support and this is a bullish signal.
The support at $2.46 is expected to be strong.
Watch for any entry opportunity when prices are near the 50 days MA as prices have been trending upwards in 2012.
Short-seller Carson Block released a long-awaited 133-page research report on Olam International Ltd., accusing the Singapore commodities trader of a litany of problems from incompetence to malfeasance and saying it was running a high risk of failure. Olam strongly denied the allegations, saying “there is no substance” in the assertions.