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SANLAM LIMITED

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SLM trade ideas

Sanlam bear patternSanlam has bounced off the neckline of a bearish head and shoulders pattern for a second time now. I am of the opinion that the 200 Day moving average will act as resistance and we'll see a leg down soon. With Financials under pressure following that shocking GDP number, this stock needs to play catch up (to the downside). I have shorted at current levels for a big move down to R67.00. BUT! I have given my trade a lot of room in terms of my stop-loss. Stop is set at R80.20 which would signal a break-out. Cheers
JSE:SLMShort
by RobbyP
Sanlam broken trend (SLM)Sanlam managed to break its own upward trend back in March and has now made three attempts to resume it. Significant patterns here as the much larger head and shoulders seems to have failed but there is another smaller head and shoulders forming just below that previous trend line. Does that mead the larger pattern is back in play? I certainly think so. If current resistance holds and the 200 day moving average is broken (+-78.00) we could see a 10% pullback from here.
JSE:SLMShort
by RobbyP
Trade Idea: Sanlam Ltd (SLM) Dear Trader As a proxy for global equity markets, life assurance company Sanlam (SLM) has managed to hold onto share price gains despite the lackluster local economic outlook as well as the subdued global macroeconomic backdrop. Despite China also having released 'fair' economic data, global equities across the board on Thursday trade slightly lower while the US Dollar remains strong. At current levels, the shares from a short term technical perspective appears to be peaking and any substantial shift to 'risk-off' may see recent gains being eroded. Based on this, I am looking at a short/sell from above 7920 (currently 7926c), using stop-loss of 8205c and take profit target of 7550c.
JSE:SLMShort
by LD_Perspectives
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