Our opinion on the current state of QUILTER(QLT)Quilter Plc (QLT) was spun out of Old Mutual as part of its "managed separation" process and began trading on the London Stock Exchange (LSE) with a secondary listing on the JSE from 25th June 2018. Quilter is a UK-based financial services group offering asset management both domestically and internationally. The company serves 900,000 customers and had GBP101.7 billion in assets under management (AUM) as of 30th June 2023. Quilter is also involved in life assurance and has a strong track record as a multi-manager for client wealth. More than 60% of Quilter's shareholders are South African institutions, making it a significant rand-hedge stock. Any strengthening of the rand against the British pound could see the share price fall, while a weakening rand would likely boost the share price.
In its results for the six months to 30th June 2024, Quilter reported core net inflows up 164%, adjusted profit up 28%, and an operating margin of 29%. AUM increased by 13% to GBP110.6 billion. The company attributed its positive performance to increased interest rates, which supported investment returns on shareholder cash, stronger markets that increased average assets under management and administration (AuMA), improved net inflows, and effective cost management through its Simplification programme.
In a trading statement for the third quarter of 2024, Quilter reported record inflows of GBP1.4 billion, bringing AUM to GBP116.2 billion by the end of the quarter.
Technically, the share has broken out of an "island" formation and is now in a new upward trend. Quilter is considered a solid rand-hedge investment and a favorite among institutional investors. As the UK economy continues to recover, Quilter is well-positioned to benefit from that growth.
QLT trade ideas
Quilter Seeking a Weekly/Yearly LowQuilter is moving into a long weekly cycle, currently in week 42. Price is also seeking a yearly low, the last was the COVID low and we are well below that level. Ideally we want price to go below the previous weekly low (R16.61), this gives a good runway to the upside. The dashed pink line is where we will have confirmation of a weekly low by closing above this line on a weekly basis. The dashed green line is we will get a confirmation of a yearly low by closing above this line on a yearly chart.
The blue line is the daily cycle line, closing above this on a daily chart with a swing low means we have left behind a cycle low. Of interest is the intersection of support formed by previous weekly low horizontal blue and a median line of the Pitchfork, double support usually provide turning points. Higher risk entry would be a close above blue daily cycle line.
QLT: temporary correctionA price action below 2560 supports a bearish trend direction.
Crossing below 2520 will support further bearish strength.
The target price is set at 2400.
The stop-loss price is set at 2670.
Downside price momentum also applicable.
Remains a risky trade as the price action is against the general upward trend direction of the incliig channel patter.
$JSEQLT - Quilter: Growing Legs And Looking BullishSee link below for previous analysis
Since i started covering Quilter I have stated that a bottom looks in at 1661.
What followed was a prolonged period of sideways movement but price always held above 1661.
The breakout towards the end of 2024 has been decisive and the recent consolidation looks to be a good entry point as the bulls seem to have the initiative.
This chart looks bullish.
Quilter Seeking A Cycle LowQuilter is in the timing band for a daily cycle low, we will know this is confirmed when price closes above the pink resistance line set over recent price action. Investors who missed the bus can consider this as a safer entry point, higher risk accepting investors can buy before confirmation by considering how price is bouncing off the support of 200DMA, dashed trendline & horizontal black line, triple support is much stronger support to break on pullbacks.
Our opinion on the current state of QLTQuilter Plc (QLT) is a company spun out of Old Mutual as part of that group's "managed separation" process. It was admitted to trading on the London Stock Exchange (LSE) and has had a secondary listing on the JSE from 25th June 2018 following the issue of a prospectus on 20th April 2018. Quilter is a UK financial services group which offers asset management in the UK and internationally. It has 900 000 customers and had GBP101,7bn assets under management (AUM) at 30th June 2023. It is also involved in life assurance. The company has a good track record as a multi-manager for client wealth. More than 60% of Quilter's shareholders are South African institutions. As this company is wholly based overseas it is a rand-hedge. Any strengthening of the rand against the British pound will see this share fall and vice versa. In its results for the six months to 30th June 2023 the company reported AUM up 2% and adjusted earnings per share (EPS) of 4,3p compared with 3,2p in the previous period. In a report on the third quarter the company said that AUM was unchanged but that, "Third quarter core business net inflows of £1 million contrasted with net inflows of £324 million in the corresponding period of 2022". In a report on the three months to 31st December 2023 the company reported net inflows of GBP175m which compares with inflows of GBP242m in the same quarter of 2022. Assets under management (AUM) rose 5% to GBP106,7bn. The share has been moving sideways since June 2022 and may be due for a new upward trend soon. We regard this company as solid rand hedge and an institutional favourite. As the UK economy recovers it should do well.
QLT: some wave count?A price action above 2360 supports a bullish trend direction.
Increase long exposure for a break above 2440.
The target price is set at 2550.
The stop-loss price is set at 2270.
Remains above its 200-day simple moving average.
It seems like wave 4 is completed and the impulse wave 5 might unfold.
Our opinion on the current state of QLTQuilter Plc (QLT) is a company spun out of Old Mutual as part of that group's "managed separation" process. It was admitted to trading on the London Stock Exchange (LSE) and has had a secondary listing on the JSE from 25th June 2018 following the issue of a prospectus on 20th April 2018. Quilter is a UK financial services group which offers asset management in the UK and internationally. It has 900 000 customers and had GBP101,7bn assets under management (AUM) at 30th June 2023. It is also involved in life assurance. The company has a good track record as a multi-manager for client wealth. More than 60% of Quilter's shareholders are South African institutions. As this company is wholly based overseas it is a rand-hedge. Any strengthening of the rand against the British pound will see this share fall and vice versa. In its results for the six months to 30th June 2023 the company reported AUM up 2% and adjusted earnings per share (EPS) of 4,3p compared with 3,2p in the previous period. In a report on the third quarter the company said that AUM was unchanged but, "Third quarter core business net inflows of £1 million contrasted with net inflows of £324 million in the corresponding period of 2022". The share has been moving sideways since June 2022 and may be due for a new upward trend soon. We regard this company as solid rand hedge and an institutional favourite. As the UK economy recovers it should do well.
$JSEQLT - Quilter PLC: Going Nowhere SlowlySee link below for previous analysis.
Quilter has remained above 1661 but cannot seem to break decisively above 2200.
The stock has traded in a narrow, choppy, sideways range between 1661 and 2217.
I do not follow this company so I am not sure what the fundamentals look like but they might be as choppy looking at the share price performance since listing.
I change my stance from bullish to neutral.
Quilter: Bearish Into Weekly LowsQuilter $JSEQLT presented a false breakout trapping unsuspecting bulls, now the daily cycle has failed though price is within timing band for a bounce, it will not last long before price resumes downtrend. Dates of interest would be end of April/early May for long positions. Ideally price must go lower than R16.61 to present good risk/reward for longs following a monthly cycle low.
$JSEQLT - Quilter PLC: Going Nowhere SlowlyThe last update on Quilter was on 09.01.2023, link below.
I was upbeat on the stock as the price pattern suggested a bottom is in at 1661.
I was further bullish as the bear terminated in an ending diagonal (falling wedge).
Price action after an ending diagonal tends to be swift and strong in the opposite direction.
The stock price of Quilter has been anything but swift.
While 1661 has not yet been violated, price has traded sideways in a range 1780 - 2217 with a false breakout in-between.
One needs to take a deeper look at fundamentals before committing capital on this one as that could be a significant reason why this stock is trading the way it is.
I am neutral to bullish as long as 1661 but this is for investing and not trading.
QLT: Facing Strong ResistanceQuilter price has formed a rising wedge (bearish) while seeking a daily cycle high in an already failed cycle. Overhead resistance is made strong by the 200 day moving average that is declining. We know this share is positively correlated to the British Pound, therefore a stronger dollar will pressure price downwards as well as a week in which we see the share go ex-dividend.
Price closing above the blue trendline would be reason to dismiss the short option.
Quilter: Staring into the Abyss or False Breakdown?Quilter is in an interesting place, price action has reached the pointy end of a symmetrical triangle. Watching to see how this plays out, odds lean towards a bearish scenario & this would be cemented if price goes below R18.51. The 200DMA & 30DMA are also converging with the upper resistance, usually price finds it hard to break through double resistance, we have triple in this scenaro.
If one puts the chart of the GBPUSD on the same chart, you can see Quilter closely correlates with moves on that chart, given that we expect USD to be in expansive mood, we can add that evidence to a bearish scenario, as GBP weakens, Quilter will follow. We must remain watchful of false move in the opposite direction to throw off bears.
$JSEQLT - Quilter Plc: Bullishness On The HorizonQuilter stock has been underwhelming since listing in 2018.
The share peaked at 3487 zac in August 2020, pulled back and retested that previous high but fell short at 3477 zac in August 2021.
What followed has been a strong sell-off which could potentially have bottomed at 1661 zac.
The general EWP pattern in play here is a regular flat labelled wave (A) to (C) with the (C) wave unfolding as an ending diagonal (falling wedge).
The primary critical level price must trade above to maintain the bullish outlook is 1661 zac and the secondary level is 1851 zac.
QUILTER - 3 Soldiers I missed this one so will look to enter on any possible retracement or trade the momentum up intraday.
Closed above the 20 ema for the second day now (bullish) .
A deep pullback to R17.75-R18.00 with support would trigger a decent swing long.
If the stock continue to trend higher, the 50 ema will be the first hurdle before reaching R22 swing target.
QLT: some upside potential?A price action above 2110 supports a bullish trend direction.
Crossing below this level will negate the general positive stance.
Further positive trend support above 2180.
Consolidation range from 2150 to 2240.
Crossing above the 2240 resistance might target 2360.
Crossing below the 2150 support might target 2150.
Remains a risky trade.
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QLTPublished to our client platform a few minutes ago. Quilter Plc - Trading at long term support extending back to the March 2020 and December 2018. In addition, the share has emerge from it's declining channel while also trading at an extended level versus it's year-to-date volume point of control (VPOC) at 2840c and the 200-day at 2749c.
Entry : 2068c
Stop: 1896c
Target: 2440c
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