UPDATE Old Mutual Falling Wedge breakout and looking sassy!Falling Wedge formed on Old Mutual, and since the breakout it's been rallying.
It's looking great for the upside, we suggested a few days ago.
7>21>200
RSI>50
Target remains at R12.61 above the top of the Falling Wedge.
I'll let you know.
ABOUT THE COMPANY
Historic Foundation:
Old Mutual plc was originally established in 1845. It started in Cape Town, South Africa, as the Mutual Life Assurance Society of the Cape of Good Hope. It was the first mutual life assurance company in the country.
Geographical Presence:
Old Mutual has expanded significantly since its founding, becoming a prominent financial services group in several countries around the world. It has a particularly strong presence in Africa, including South Africa, Namibia, Zimbabwe, Kenya, Nigeria, and other countries.
Split and Restructuring:
In 2018, Old Mutual undertook a "Managed Separation" process where the company was split into four separate entities: Old Mutual Limited, Quilter plc, Nedbank Group Limited, and Old Mutual & Nedbank Insurance Holdings Limited. The purpose was to simplify its structure and unlock shareholder value.
Services Offered:
Old Mutual offers a wide range of financial products and services including life and general insurance, asset management, banking, and other wealth management solutions.
