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Jseslm

Sanlam broken out of Falling Wedge target to R63.69Falling Wedge formed since 1 Feb 2023. Only yesterday, we had the confirmed breakout showing strong buying and demand. Price>200 Bullish RSI >50 Target R63.69 SMC Below the Wedge we have Sell Side Liquidity Order block. Where Smart money is buying where retail were selling. This gives a strong signal that high buying volume was trumping selling. Very bullish for the stock. ABOUT THE COMPANY Early Roots: Sanlam was founded in 1918, originally as a life insurance company named The South African National Life Assurance Company. Public Company: In 1998, Sanlam demutualised, changing its status from a mutual life insurance company owned by its policyholders to a public company listed on the Johannesburg and Namibian Stock Exchanges. Wide Range of Services: Sanlam provides financial solutions in a broad range of areas, including insurance (life and general), financial planning, retirement annuities, trusts, wills, short-term insurance, asset management, risk management, and capital market activities. Global Presence: Sanlam operates across 33 countries. It has a particularly strong presence in Africa, where it operates in many of the continent's major markets. Five Business Clusters: Sanlam's operations are organised into five business clusters: Sanlam Personal Finance, Sanlam Emerging Markets, Sanlam Investments, Sanlam Corporate, and Santam. Santam Subsidiary: Sanlam owns a majority stake in Santam, which is South Africa's largest short-term insurer.
JSE:SLMLong
by Timonrosso
Expecting a reversal soonThe Sanlam Group is one of the largest established financial services groups in South Africa. Established in 1918, the group demutualised in 1998 and Sanlam Ltd then listed on the JSE Ltd. and the Namibian Stock Exchange. The group has business interests elsewhere in Africa, Europe, United Kingdom, India, the USA and Australia. Daily: We can see an impulse move on the left of the chart from the high and there is currently a corrective structure formation taking place. I believe that we are very near the reversal point which will indicate the end of wave 3 and the start of wave 4 to the bottom of the structure. From that point I will need to see either a confirmation of a reversal for wave 5 before the big move to the downside or alternatively a break of the structure at the bottom of wave 4. I will be watching lower time frames for confirmation of the breaks or reversals.
JSE:SLMShort
by Linton_White