Sunday, 28 May 2017

OML

Old Mutual operate primarily in the long-term savings and investment market. People all over the world are saving for their retirement against a background of declining state and corporate support. In many of our markets, people are living longer and have higher expectations of an active retirement. They want their needs to be understood and met and they expect choice, transparency and flexibility in the products available to them.
 
Currently is the price back at support levels, with the Stochastic in oversold territory.  Technically, the weekly and monthly support numbers are near converging and it is at a level almost hooking into a crossover buy signal. The chart pattern could potentially turn into a major double bottom formation from the April lows. Look to buy near 3227; use a stop below 3200.


Trade with caution as the markets are very unstable and uncertain.
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