Short term view - OLD MUTUAL PLC : Prices are breaking below the moving average, it is a sign of weakness.
The trend is still bearish, the invalidation level is above 238.40 p. The target is at 205.00 p.Arguments :
- Prices have pulled back to the resistance level (previously a support). The fall is now resuming.
- Prices are breaking below the moving average, it is a sign of weakness.
Old Mutual is an international investment, savings, insurance, and banking group. Co. three businesses are Old Mutual Emerging Markets, which distributes products and services to customers through a multi-channel distribution network spanning tied and independent advisers, branches, bancassurance, direct and digital channels, and worksites; Nedbank, which operates an asset management model as part of an integrated wealth management business; and Old Mutual Wealth, which providing advice-led investment solutions and investment platforms to customers, principally in the affluent market segment.
DayByDay is an independent research company providing global macro and single stock analysis, recommendation and allocation based purely on behavioural finance methods. Those include long term cycle analysis, sentiment analysis, and technical trigger. DayByDay serves all clients in need of practical and precise publications to make effective market decisions, on any time horizon, from a few hours to a few years.
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