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OLD MUTUAL LIMITED

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OMU trade ideas

Old Mutual: Solid Reversal, Consider Partially ReducingOMU just about traded into my provisional accumulation zone (yellow circled areas), a level which was set two weeks earlier (05 July) and highlighted in my client report. The price has strongly reversed higher, following the expected path on the back of it's market update among other factors. From just above 1200c to 1463c, it may be time to partially reduce the position as it nears swing highs (short term view). For access to these and other insights and ideas, get in touch today.
JSE:OMU
by LD_Perspectives
A Hunch And A Pretty Picture Show OMU Headed For 18.50When looking at OMU using the 15min, 4H and 1D charts you can tell that when it broke its resistance it meant business. Tradingview has many analysis that carefully point this out. We want to look at the W chart. Yup! The chart where one candle is an entire week. That one! Since we are all about grand perspective, we'll be following this over time and using it as an opportunity to learn about how financial services companies (who may argue, are refusing to move with the times and honour the new rules of their markets) will fair in this new world. This chart illustrates an inverted head-and-shoulders: showing entry above 13.00, a stop loss level around 11.25 and a possible take profit at 16.50. But for the purposes of this watching exercise we are more interested in the ledge created between late January 2020 and mid February 2020 of 17.99. We believe OMU will continue to rise, it will beat those ledge levels and kiss 18.50 - possibly riding those level for a while before falling again.
JSE:OMULong
by wearethearx