Short term view - OLD MUTUAL PLC : All-time-high
The previous high has been passed, the bullish trend is confirmed. The next target is at 267.00 p. The invalidation level is below 222.00 p.Arguments :
- The major support has been shortly breached, but it is now reinstated. Prices can bounce.
- Prices made a new all-time-high, this confirms the strength of the trend.
- The moving average is supporting prices.
- The measuring gap, opened in the middle of the rally, reinforces the bullish trend.
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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