Old Mutual is seeking a low on the long-term time frame. Currently bouncing off support. More risk accepting investors can accumulate at these levels as weekly swing low is confirmed, longer term traders can wait for a swing low confirmation on a monthly basis. The target profit from this move is at least 25% at which point a downtrend can be expected to resume...
Old Mutual (OMU) is a premium African financial services group that offers a broad spectrum of financial solutions to retail and corporate customers across key market segments in seventeen countries. Old Mutual's primary operations are in South Africa and the rest of Africa, and it has niche businesses in Latin America and Asia. This company is what is left after...
A price action above 1210 supports a bullish trend direction.
Increase long exposure for a break above 1230.
The target price is set at 1270 (its 78.6% Fibonacci retracement level).
The stop-loss price is set at 1160 (its 23.6% retracement).
The waterfall effect of breaking the 200-day and 2-week will act as major support for the bullish underlying trend.
See link below for previous analysis.
Old Mutual has not taken off as I expected, well, given the fact that I had not looked at the fundamentals.
The stock has steadily grinded from 921 to peak at 1344 cps before pulling back to 1115 cps.
The Elliott Wave pattern formed by five overlapping waves is a leading diagonal for wave (1).
If wave (2) is complete then...
After a successful trade in November last year , I'm looking to reload here for another swing long to the top.
The volume on the down move has been low so I'm still bullish on the stock .
Stoploss and take profit levels on the chart.
Previous post
The stock has been consolidating since September and has managed to hold onto supports at R11.60 /R11.90
Expecting it to break out soon and perhaps move backup towards the swing high. First major hurdle will be R12.70
Stoploss / Takeprofit on the chart.
OMU has been in an ascending channel. Price has closed above the 200-day SMA, still favouring the bulls.
Direction: Buy
Target: R12.92
Stop loss: R11.51
Risk/Reward: 1.5
Traders/Investors should always make their own analysis, the idea posted is just a guideline. Risk management is always your number one priority.
Old Mutual (OMU) is a premium African financial services group that offers a broad spectrum of financial solutions to retail and corporate customers across key market segments in seventeen countries. Old Mutual's primary operations are in South Africa and the rest of Africa, and it has niche businesses in Latin America and Asia. This company is what is left after...
The stock has come off the boil and returned to the up sloping 200dma
Currently broken down out of a rising wedge pattern.
Support : R11.90 , R11.60
Major Support : R11.00
NB: Upcoming earnings release
"A rising wedge pattern is a technical chart pattern that traders use to identify possible trend reversals in the price of a security. It appears as an...
Old Mutual (OMU) is a premium African financial services group that offers a broad spectrum of financial solutions to retail and corporate customers across key market segments in seventeen countries. Old Mutual's primary operations are in South Africa and the rest of Africa, and it has niche businesses in Latin America and Asia. This company is what is left after...
Old Mutual ($JSEOMU) price went below the black line, representing a cycle failure on daily time frame, it has also confirmed a weekly swing high so we have high conviction that the trend has turned bearish. The intersection of the green line and the divisor of the parallel channels presents strong support. If price reaches this level we will be looking for a...
Falling Wedge formed on OMU, the price broke up and it was clear demand and buying from there.
We also had a W Formation confirming strong upside.
7>21>200
RSI>50
Target 1 -> R12.61 Reached
Target 2 -> R13.38 hit today.
The uptrend is still on the way, but we'll need to wait for a consolidation pattern to form before getting in.
This is the best type of trade...
Price has reached swing high resistance and currently flagging for an attempt to break out and reach the first gap at R13.30
Price is also firmly above all key moving averages. ✅
R12.30 needs to hold on any pullbacks or risk a deeper pullback to the 20dma.
A bull flag is a bullish chart pattern that occurs when a stock is in an uptrend. It is considered a...
There is a ascending triangle in the making which is bullish. Although i am not 100% comfortable with this chart, a early breakout could go to R13.20 and maybe R14.70. I will keep a close watch
Falling Wedge formed on Old Mutual and the price broke up and out of the pattern.
Since then it's been going to our first target of R12.61.
It is still on course.
Last few weeks, OMU has formed a W Formation (another breakout pattern). Once the price breaks this one, the next target could be as high as R13.38.
Other indicators confirm upside to...
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,...
OMU has broken up out of a falling wedge pattern over the last 130 days,
R12.50 targets on the cards if the bulls can keep the momentum up
reward to risk 2:1
