SUMMARY | Position: LONG | Upside target: R14.00 | Reward / risk ratio: – | Recommended stop-loss: R11.00 | RECOMMENDATION: BUY
Analysts: Peet Serfontein, Jalpa Bhoolia
Old Mutual is the largest life insurance company in SA and has dominant share in the mass foundation (lower end) and corporate markets. The group offers a wide array of financial services to individuals, corporates, and institutions across 14 countries.
Technically, a price that is building a base makes for an attractive investment opportunity (see the black trendline on the main chart). The pattern highlights a consolidation, whereby a share trades within a defined range over a period. The longer and more pronounced the base, the more significant the potential breakout and sub-sequent upward movement.
The insert shows the Ichimoku Cloud analysis for the share. It consists of five components: …
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