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Oldmutual

Old Mutual trading styles for buys - Target R13.70There are many different ways to trade Old Mutual looking at this chart. 1. Reversal trader They will wait for the support to establish as it's done at R10.00 and then will buy and hold until it reaches the top of the range. 2. Breakout trader WIll wait for the price to go up and complete the W Formation where it will breakout and trade up to R13.70 3. High probability trader This one will have to wait the longest for the price to not only close above the W Formation but also close above the Downtrend and the 20MA and 200MA. Either way, Old Mutual does look bullish as things stand. Enjoy!
JSE:OMULong
by Timonrosso
1
UPDATE: Old Mutual heading to target 1 and next target is...Falling Wedge formed on Old Mutual and the price broke up and out of the pattern. Since then it's been going to our first target of R12.61. It is still on course. Last few weeks, OMU has formed a W Formation (another breakout pattern). Once the price breaks this one, the next target could be as high as R13.38. Other indicators confirm upside to come: 7>21>200 RSI>50 Target 1 -> R12.61 Target 2 -> R13.38 SMC: Above the W Formation is a Break of Structure to the Upside. This is when the price breaks and closes ABOVE the wick of the previous HIGH in an UPTREND. ABOUT THE COMPANY: Origins: Old Mutual is a multinational wealth management company originating in South Africa. Founded in Cape Town in 1845, it's one of the oldest existing financial services companies in South Africa. Expansion: Since its establishment, Old Mutual has expanded to operate in 14 countries across two regions: Africa (including South Africa) and Asia (including China). Services: The company provides a broad range of financial services, including life assurance, asset management, banking, and general insurance. Managed Separation: In 2016, Old Mutual announced a "managed separation" strategy that aimed to separate its four main businesses into standalone entities. This resulted in the creation of four independent businesses: Old Mutual Limited, Quilter plc, Nedbank Group, and Old Mutual Wealth. Employment: Old Mutual employs over 28,000 people worldwide.
JSE:OMULong
by Timonrosso
UPDATE Old Mutual Falling Wedge breakout and looking sassy!Falling Wedge formed on Old Mutual, and since the breakout it's been rallying. It's looking great for the upside, we suggested a few days ago. 7>21>200 RSI>50 Target remains at R12.61 above the top of the Falling Wedge. I'll let you know. ABOUT THE COMPANY Historic Foundation: Old Mutual plc was originally established in 1845. It started in Cape Town, South Africa, as the Mutual Life Assurance Society of the Cape of Good Hope. It was the first mutual life assurance company in the country. Geographical Presence: Old Mutual has expanded significantly since its founding, becoming a prominent financial services group in several countries around the world. It has a particularly strong presence in Africa, including South Africa, Namibia, Zimbabwe, Kenya, Nigeria, and other countries. Split and Restructuring: In 2018, Old Mutual undertook a "Managed Separation" process where the company was split into four separate entities: Old Mutual Limited, Quilter plc, Nedbank Group Limited, and Old Mutual & Nedbank Insurance Holdings Limited. The purpose was to simplify its structure and unlock shareholder value. Services Offered: Old Mutual offers a wide range of financial products and services including life and general insurance, asset management, banking, and other wealth management solutions.
JSE:OMULong
by Timonrosso