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...
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.
After teasing with a break to the upside Ood Mutual (JSE:OMU) has remained within the medium term pennant, and is currently wedged between the 50MDA and 200MDA. A dialy close above or below either one of the two could confirm the direction of a break. With BV/S at 14.23 the bets is on for an upside break, target the Feb high with stops below 12.00, or 11.60
Well, everything on the globe is being marked down, and this includes SA banks & financials, despite much improving underlying fundamentals. Prices for all of them are now under their 5EMA which is under their 15EMA. In this weak sentiment environment I'm looking for them to give back another 5% or so before bargain hunters like myself can't resist the risk. ...
Old Mutual had high volume days last year that alerted us to some pending action - see posts below. Yesterday there was again some volume indicating the buyers are back from holiday and ready to continue the markup with some space to move.
It is an unusual time of year to see this type of volume in the market but it seems 2020 is an unusual year. A number of stocks are showing some volume pushing the price. Old mutual has had two relatively high volume days at the end of last week pushing price higher from a lower volume back up (BU) to a last point of support (LPS). There has been a sign of...
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
Sell Short OMU www.fin24.com Some jaw boning from the company - ewn.co.za
I have been waiting for the markdown to start in Old Mutual (See posts below) for a while. However, price has been testing the 2000 level but has been unable to break it. With a significant bar with some volume the last two days the new year might finally bring the markdown.
I think the JSE:OMU rerating relative to JSE:SLM is overdone and I am looking to enter the pair around 0.2462 with a target of 0.27 (TP1) and 0.275 (TP2). My stop-loss is set at 0.234
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.
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.