SUMMARY | Position: LONG | Upside target: R23.40 | Recommended stop-loss: R15.15
| RECOMMENDATION: BUY
Momentum Metropolitan Holdings is a South African based financial services group. Its core business is focused on long and short-term insurance, asset management, savings, investment, healthcare administration and employee benefits.
These product and service solutions are provided through two well-known operating brands, namely Metropolitan and Momentum.
Technically, a price beginning to counter-test a bearish trend makes the share attractive as an investing opportunity (see the declining channel pattern and the curved black arrow). This indicates that internal strength is developing, which could support a bullish trend.
The expectation is that the price will progress towards and break above the upper range of the declining channel pattern. The price is also testing its 200-day simple moving average. A push above this level will classify
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