SteynTrade
Long

JSE:OMU Old Mutual Being Accumulated?

JSE:OMU   OLD MUTUAL LIMITED
After a sharp decline with a Selling Climax ( SC ) Old Mutual has been ranging. Now after some low volume accumulation price has pulled back to the bottom of the trading range also on low volume . The spring off of support has been on good volume and after a test, we can expect a mark up in the Trading Range ( TR ) in Phase D to the top of the TR . We can then look for the breakout out of the TR .
Comment: OMU is now testing the top of the TR. Will be looking at how price reacts/breaks the TR to see if the markup in Phase E will continue.
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