There are many different ways to trade Old Mutual looking at this chart. 1. Reversal trader They will wait for the support to establish as it's done at R10.00 and then will buy and hold until it reaches the top of the range. 2. Breakout trader WIll wait for the price to go up and complete the W Formation where it will breakout and trade up to R13.70 3. High...
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...
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,...
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.
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
Momentum is down on JSE:OMU . If it continues downwards, I will enter a short position. I think we could see it go down towards the 1200 support level.
Another one that keeps on promising. JSE:OMU is inching closer to the resistance level, I'd like to see the price break above this level. A good dividend payer. I'm bullish on financials, and the JSE:STXFIN pulled a good move today (I have a position on TFSA).
JSE:OMU recently bounced nicely off of the 200 Simple Moving Average and started to in an upward direction. It is also showing signs of great upward momentum so I think we could be looking at a nice upward move towards the previous resistance level at around 1480
JSE:OMU has bounced nicely off of the 200 simple moving average, failed to make a lower low and seems to be turning upwards for a long position. Momentum indicators are also start showing a move to the upside. We could possibly go to the previous highs around the 1500 level.
JSE:OMU broke the significant resistance level of 1350 yesterday, which it has ben struggling with since about April 2020. It is showing some nice bullish momentum and I think we can possibly be looking at a move up to around the 1650 level and possibly beyond in the longer term.
JSE:OMU has found some resistance at the 200 Moving Average and could be heading for a downward move. The stochastic and the MACD are both starting to confirm this downward momentum.
JSE:OMU was trading in a downward trend but has recently broken through the trend line, come back down to test it as support and seems to be moving upwards again. I will wait for a confirmation above the 1100 level before entering a long position.
The share price is currently heading towards the major descending trend line and previous support from a well-structured double-bottom pattern. For the more risk-aware investors, I'd advise you to place an alert around the 1280 level and await crossing confirmation. I will also update this idea upon finding more useful/reliable fundamentals. Goodluck and follow...
Descending triangle pattern building on OMU. Will need to close below previous swing lows, at R11. First target at R10 and full target at R7
JSE:OMU broke out of an ascending triangle pattern in a downwards direction. We could be seeing a small downward move towards the previous low of 924.