Old Mutual is looking good, the RSI is pointing upwards and the price is heading up from SUPPORT towards its first DAILY horizontal resistance at around R19.00 after that weekly resistance comes in around R21.00
Old Mutual: The group's share have been battered recently declining from 2200c to a low of 1728c. Now I don't know if it's the legal proceedings between the board and CEO that has caused the drop or if it's just the weakness in equity markets. Technically, the price appears to be finding a bottom having regained the 1753c zone. At current levels, it may be worth...
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 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.
Old Mutual has been in a TR after a big drop in October 2018. We had a spring on high volume and now a test on lower volume indicating that supply has dried up. Looking for the markup in phase D to the top of the TR range. After a consolidation at the top of the TR, I will be watching for a breakout and phase E to start.
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.
We've seen Old mutual fall so hard after its first IPO, leaving a market gap that need to be closed, currently we are accumulating, soon to break this and go close the gap
JSE:OMU
Trading in well defined range from October last year.
News on Friday about CEO been fired pushed stock out of the range but it quickly recovered and closed inside range.
So far not much to be done. Wait for break of the range.
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...
After a sharp decline with a Selling Climax (SC) Old Mutual has been ranging. Now after some low volume accumulation price has pulled back to the bottom of the trading range also on low volume. The spring off of support has been on good volume and after a test, we can expect a mark up in the Trading Range (TR) in Phase D to the top of the TR. We can then look for...
