OLD MUTUAL despite the recent events a potential buy on the break of the channel
JSE:OMU has formed a double bottom. If it confirms through the current level, I will consider a small long position.
JSE:OMU has formed a flag shape which is a bullish pattern and it has broken out and will most likely continue upwards. I will, however, wait for further confirmation before jumping in.
JSE:OMU has broken downwards through an ascending support line. This is confirmed by the crossing of the EMA's as well as the downward direction of the Stochastic and the MACD.
JSE:OMU has broken through a fractal and is continuing upwards with strong momentum. Along with this, the stochastic and the MACD have both turned up and the EMA's are crossing which are all signals to go long on our trend-following momentum strategy.
Price is moving in a range on the daily timeframe, with the support level at 2 120 and a resistance level at 2 370. Though it is possible that price may move further up to close the massive gap on this stock, it is my belief that prices are going to continue further down due to a cluster of orders that are sitting at or above the resistance level. The daily...
JSE:OMU has developed a bullish harami which is a typical reversal signal - so we can expect a move upwards with a target around the 2270 level.