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Technical trade note Old Mutual PLC - 13 June 2018


Trade idea on Old Mutual PLC (OML)

This Old Mutual PLC (OML) trade opportunity was brought to my attention by Piru Harington who is one of our Private brokers and I must say it looks good for a long trade.

Outlook: The buy is supported by the bullish engulfing candle which can be seen in the chart as well as the price action being supported higher by the 200-day Simple moving average.

Take Note: Old Mutual PLC (OML) will have its corporate action, namely the managed separation kicking off its new listing on the 26th of June.

Full trade summary and chart detailed below:

Education: 6 Candlestick Patterns Every Trader Should Know

Trade: Old Mutual PLC (OML)

  • Entry (Buy): 3971c
  • Stop loss: 3890c
  • Target price 1: 4097c
  • Target price 2: 4267c

Screen Shot 2018-06-13 at 09.57.27

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