Trade idea on Old Mutual PLC (OML)
A trade set up has presented itself on Old Mutual PLC (OML) and I am looking to buy at 4097c. The price action seems to have broken out of a descending channel and is starting to move higher.
ALSO READ MORE ABOUT CHANNEL PATTERNS HERE
Trade: Old Mutual PLC (OML)
- Entry (buy): 4097c
- Stop loss: 3961c
- Target price: 4267c
UPDATE
Update on Old Mutual PLC (OML) 24 April 2018
Old Mutual PLC (OML) has reached our target price at 4267c and is still looking good for some upside to come over the following weeks. I believe this move today was mostly due to the SENS announcement that came out Friday the 20th of April that gave some insight into the managed separation.
SENS Announcement: https://senspdf.jse.co.za/documents/SENS_20180420_S398550.pdf
Old Mutual PLC (OML) chart:
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