SAnlam limited trading a key level a potential drop on the break of the trend line
Sanlam has outperformed Standard bank by a margin of 27% from the lows we saw in May of this year. The chart of their relative ratios ( SLM / SBK ) has now approached an important area of resistance (0.46 to 0.477) which has been in place for the last two years. If you take a look at the individual charts of the underlying counters, one will notice that Sanlam has...
JSE:SLM has reached quite a strong resistance zone at around the 8200 level. It seems to be struggling to break through which is also being confirmed by the stochastic. I will enter short if it is confirmed.
JSE:SLM formed a bearish harami a few days ago which might be signalling a reversal. It is looking like it so far and the stochastic is confirming it. I will, however, wait until confirmation on Monday before entering a short position.
JSE:SLM is showing a bullish harami pattern at quite a strong support level. We could possibly be looking at a bullish reversal if confirmed.
JSE:SLM has broken through a descending resistance with an engulfing candle. Opportunity for a long if it confirms by breaking through fractal level.
JSE:SLM has been trading in quite a strong sideways channel since last year April. It is likely that it will bounce off of the bottom of the channel and head upwards.
The 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...