OUTsurance (OUT) assumed the listing of Rand Merchant Insurance (RMI) effective from 7th December 2022. Following this transition, RMI divested its interests in Discovery (DSY) and Momentum (MTM), and divested its 30% stake in Hastings Plc for R14.6 billion. By March 2023, the insurance business of OUTsurance remained as the sole focus of RMI.
In its financial...
Outsurance Group (OUT) | The share has been in a gradual upward trend, with a multi-month consolidation at/near 52-week/all-time highs. The price action and specifically the candle structure has been negative however has started to show (very) early signs of improvement. Two additional positives to note: (1) the development of a falling wedge candle formation and...
The stock has had a solid run up but it now displaying signs of increased selling pressure at these levels.
RSi+MACD divergence
A close of 20ema below the 50ema will increase the odds of a pullback to the rising 200ema.
SL and TP on the chart
“How is it possible for Outsurance to have data on my charting platform, as far back as 2013 while it was just listed on the JSE.”
A. The data that you see from 2013, came from the parent company Rand Merchant Investment Holdings (RMI).
They then changed the name to OUTsurance Group Holdings Limited (OUT).
And they have been in the process of transitioning...
Outsurance (OUT) took over the listing of Rand Merchant Insurance (RMI) with effect from 7th December 2022. RMI unbundled its stakes in Discovery (DSY), and Mommet (MTM) and sold its 30% stake in Hastings Plc for R14,6bn. By March 2023, all that was left was the insurance business of Outsurance. In its results for the year to 30th June 2023 the company reported a...
My first target reached at R39.10.
A Cup and Handle formation revealed and broke out on 10 July 2023. It's been a bit of a hold, but the price continued to make higher lows and higher highs.
This is the best case scenario for a long buying trade. The thing is, what's next?
We could get a bit of a retracement here in a consolidation manner. This is where...
The stock is again proving its resilience.
I was expecting and a fairly large correction after the five wave advance from 939 to 3759.
Based on current price action, the correction looks complete at 3075.
I have updated the wave count to show the full trading history.
Buy the dips above 3075
For more research insights, including trade ideas, get in touch today.
Early today, at 12:06pm (at 3723c), I published the following idea for our clients:
Speculative Trading Opportunity. The short term price trend is strong hence the share could trade higher before starting to develop a topping structure followed by a bearish reversal. While currently 'strong',...
Price has broken out of downward channel which is bullish. Stochastic Macd and EMA'S have crossed over to the top. Today a very bullish candle is forming. It has also broken out off a cup and handle, All positive bullish signs.
Cup and Handle has formed on this volatile stock.
The price has broken above the brim level and it looks like, it wants to rally.
Other indicators confirm upside momentum
7>21>200
RSI>50 - Higher lows
Target 1 will be at R38.88. We can expect higher, but I'm happy with a 1:1.78 R:R.
CONCERNS:
The JSE ALSI 40 just broke below the Symmetrical Triangle. This...
Price has been well supported off the the 200dma and channel bottom and is reaching an area of interest.
The recent cup and handle may bode well for the bulls to attempt a break out through R35-36 else a fade trade may result.
The cup and handle pattern is a bullish continuation pattern that looks like a cup and handle where the cup is in the shape of a “U”...
A price action above 3370 supports a bullish trend direction.
Further bullish confirmation for a break above 3450.
The target price is set at 3580.
The stop-loss price is set at 3240.
It will appear that the price action is busy with wave 5 out of the Elliott wave analysis.
Outsurance Group (OUT) | Portfolio View | Early signs of potential weakness. Previously highlighted bearish MACD cross. Now, the 14-wee RSI has breached support. Caution.
**Changed from RMI to OUT from 07/12/2022.
The group released its first trading update as OUT for the six months ended 31/12/2022 and it is a must read for anyone looking at OUT as an investment or trade.
The technical outlook though contains a warning that a long overdue correction is imminent.
The share has enjoyed a stellar run, gaining over 290% from the...
Trading more than 2x std dev over 200 days + candle structure suggests potential exhaustion at the tail end of an excess phase.
Entry: Around 3151c
Stop-loss: 3290c
Target: 2940c
For more research insights, including trade ideas, get in touch today.
Don't be dismayed by the fact that Momentum and Discovery have unbundled leaving RMI trading ex, reflecting the price as of 2022/04/22. RMI will soon be OUTsurance, which is a very good company with good management.
1. Wayne McCurrie & David Shapriro weights in their 2cents. Check it out in Youtube:
www.youtube.com
2. Further research:
www.news24.com
3....
