Onwards and upwards after a successful test of the support zone.
OML broke out of its 490day bearish channel just a couple of weeks ago and is now trading at the neckline of an inverted head and shoulders pattern, A close above R12.10 can see a move to R14.45
Massive bullish engulfing candle. Bulls fighting back to break the R12 resistance. Golden Cross looking on the cards. lets wait and see. but R17 is possibility
JSE:OMU has broken out of an ascending triangle that has been forming since late Nov 2022. If it continues up, the trade will be triggered with a target around 1375.
A retest on the lower line of the channel then a push up 1160.00
Old Mutual stock has traded generally sideways since bottoming in March 2020 after the covid-19 market sell-off. The sideways trend serves as a reminder of the importance of fundamentals to equity trading and investing. From an EWP perspective however, I see patterns galore that are indicative of further upside in the short to medium-term. The choppy move from...
Considering what is happening in the America's this week, and the Political shenanigans we face.....
A short has been triggered on JSE:OMU with today's price action so far. The signal was created based off of the stochastic turning down through the 80, the MACD going into the negative, and the EMA's crossing downward. Our target is all the way down at R7.76
Recently I published a long idea on OMU (see original idea attached). Reviewing and spending more time on equity pairs, LONG OMU vs a SHORT SLM stands out as a medium term idea. The pair considers a Long Old Mutual position against a Short Sanlam position. A successful pair trade can be realized 1 of 3 ways: The long position rises while the short position...
OMU - Target Exceeded. High of 1068c i.e. a 5-week high for an 11% ungeared gain. Original idea attached.
OML is currently testing support. Anything below R9.50 looks like a decent area to begin accumulating for those with appetite, but keep an eye out for a close below R9.36..
On a weekly note - it looks like a right shoulder could follow. From a Daily perspective - if OMU can breach the downtrend line, possible Gap trading opportunities: 1st Gap at 1329 2nd Gap at 1574 This could take some time to close.
Old Mutual OMU (currently ~961c). One of the names I'm looking at for next week. Potential buy/long. Looking for confirmation via candle strong structure. - price at lower boundary of downward trending channel. - at horizontal support extending back to March , September and November 2020 - potential breach of downward price slope structure as highlighted by...
Old mutual is a south african company which is listed in the JSE . Old mutual is a company which provides insurance/load etc old mutal now is starting to recover from the bad impect of covid 19 almost doubled its profit from operations in the first half of 2022 as the impact of Covid-19 on the insurer's financials is becoming "muted". insurer posted an 87%...
OMU trading above the neckline of an invert H&S. I am looking for a move to R13.50 Trade ideas are my own and not financial advice.
If you’re an active, short term trader, then these levels will apply to you. BUY PLAN | Buy range around back-test of 8 x 21 -EMA support zone (1212c-1223c). SELL PLAN | Overshoot of declining 50-EMA could be a selling zone (1269-1278c)
OMU hitting a big support level. R11.30 needs to hold for a bounce. Trade ideas are my own and not financial advice.
Looks like a Head & Shoulder developing on the daily chart. 1200c neckline support has to hold; otherwise it may be an ugly move to 900c and below.