Massive bullish engulfing candle. Bulls fighting back to breakMassive bullish engulfing candle. Bulls fighting back to break the R12 resistance. Golden Cross looking on the cards. lets wait and see. but R17 is possibility
OMU trade ideas
OMU - Ascending Triangle BreakoutJSE:OMU has broken out of an ascending triangle that has been forming since late Nov 2022. If it continues up, the trade will be triggered with a target around 1375.
$JSEOMU - Old Mutual Ltd: Bullish Elliott Wave Sequence Old Mutual stock has traded generally sideways since bottoming in March 2020 after the covid-19 market sell-off.
The sideways trend serves as a reminder of the importance of fundamentals to equity trading and investing.
From an EWP perspective however, I see patterns galore that are indicative of further upside in the short to medium-term.
The choppy move from 924 zac to 1701 zac is best labelled as a leading diagonal with its overlapping waves labelled wave (1) to wave (5).
The correction, which seems to have bottomed at 921 zac, is a zigzag labelled wave (A) to wave (C).
Within the zigzag we have wave (A) as an impulse, wave (B) as a triangle and wave (C) an ending diagonal.
What is critical is that the correction remained above 924 zac.
Looking forward, price must remain above 921 zac for the bullish outlook to remain valid.
In the short-term, 986 zac can also be viewed as a secondary critical level.
The MACD also adds to the positive outlook.
The bounce from 921 zac to 1182 zac was preceded by MACD/price convergence.
The MACD is again breaking above the zero line and has given a MACD crossover buy signal.
#JSEOMU Old Mutual Short Considering what is happening in the America's this week, and the Political shenanigans we face.....
Short triggered on OMUA short has been triggered on JSE:OMU with today's price action so far. The signal was created based off of the stochastic turning down through the 80, the MACD going into the negative, and the EMA's crossing downward. Our target is all the way down at R7.76
Market Neutral Idea: LONG OMU vs SHORT SLMRecently I published a long idea on OMU (see original idea attached). Reviewing and spending more time on equity pairs, LONG OMU vs a SHORT SLM stands out as a medium term idea.
The pair considers a Long Old Mutual position against a Short Sanlam position.
A successful pair trade can be realized 1 of 3 ways:
The long position rises while the short position falls
The long position rises faster than the short position rises
The short position falls faster than the long position falls.
Market Neutral Strategies can be seen as part of risk management within a broader portfolio.
For more detail as well as other trade ideas, get in touch today.
OMU - Target ExceededOMU - Target Exceeded. High of 1068c i.e. a 5-week high for an 11% ungeared gain. Original idea attached.
Old MutualOML is currently testing support. Anything below R9.50 looks like a decent area to begin accumulating for those with appetite, but keep an eye out for a close below R9.36..
#JSEOMU Short term Long idea? On a weekly note - it looks like a right shoulder could follow.
From a Daily perspective - if OMU can breach the downtrend line, possible Gap trading opportunities:
1st Gap at 1329
2nd Gap at 1574
This could take some time to close.
OMUOld Mutual OMU (currently ~961c). One of the names I'm looking at for next week.
Potential buy/long. Looking for confirmation via candle strong structure.
- price at lower boundary of downward trending channel.
- at horizontal support extending back to March , September and November 2020
- potential breach of downward price slope structure as highlighted by the first three white arrows (and subsequent breach) within the manually-drawn channel.
For more research insights, including trade ideas, get in touch today.
Provisional levels:
SL: 923c
Target: 1025c
OLD MUTUAL Old mutual is a south african company which is listed in the JSE .
Old mutual is a company which provides insurance/load etc
old mutal now is starting to recover from the bad impect of covid 19
almost doubled its profit from operations in the first half of 2022 as the impact of Covid-19 on the insurer's financials is becoming "muted".
insurer posted an 87% increase in its operating profit – termed results from operations – to R4.1 billion in the six months to 30 June, from R2.1 billion in the first half of 2021. In fact, Old Mutual's results from operations in the first half of 2022 came close to the R4.38 billion the group generated in the entire 2021 financial year.
now realy a good time to start uying those shares now when they are still Low
the highlated area is an oder block that is where we should buy those share
OMU IHSOMU trading above the neckline of an invert H&S.
I am looking for a move to R13.50
Trade ideas are my own and not financial advice.
Old MutualIf you’re an active, short term trader, then these levels will apply to you.
BUY PLAN | Buy range around back-test of 8 x 21 -EMA support zone (1212c-1223c).
SELL PLAN | Overshoot of declining 50-EMA could be a selling zone (1269-1278c)
OMU supportOMU hitting a big support level. R11.30 needs to hold for a bounce.
Trade ideas are my own and not financial advice.
Old MutualLooks like a Head & Shoulder developing on the daily chart.
1200c neckline support has to hold; otherwise it may be an ugly move to 900c and below.
OMU - ShortJSE:OMU is looking good for a short position based on the stochastic, MACD and EMAs all turning downwards.
OMU:SHORTStochastic bearish divergence
MACD to confirm the bearish signal
SL: 14.00
TP 1: 12.47
TP 2: 11.17
OMU INTRA-DAY SHORTThe stochastic has crossed for bearish signal and MACD is poised for cross under.
Will OMU hold the trend?This wis the fourth time OMU tests the down trend line
MACD is crossing for bearish signal momentum
Stochastic is in a bearish signal
Possible long opps JSE:OMUPrice forming a C&H price pattern here closing above the EMA200. There is a decent 1:5 R/R if the setup plays out. The LT trend is down Watching this closely. Always manage your risk.
OLD MUTUAL - Long Idea - Price is back above the 200 day and stochastics have reset
- Looking for a move up towards gap close
- Stoploss and takeprofit on the chart
-- MANAGE YOUR RISK - -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
Old Mutual potential shortMomentum is down on JSE:OMU . If it continues downwards, I will enter a short position. I think we could see it go down towards the 1200 support level.
