Old Mutual +8.6% Higher; Earnings Risk Looms

Wednesday,, 25 September 2024.

Time Published: 12h15

• We have seen 8.6% upside follow-through on the falling wedge structure.

• This setup was presented to clients, citing the similarity to it's sector peer Momentum Metropolitan (MTM)

• While the long term setup (weekly/monthly charts) remain very appealing, event risk in the form of earnings could give rise to volatility.

• Short term traders could use the current levels to bank/take SOME profit.

  
  

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(Previous Post: Wednesday, 11 September 2024)

Pre-Market

Ticker: OMU

• Strong upside follow-through from the falling wedge structure highlighted in the report: Active Trading Plan (Monday, 05 January).

• Short term - volatility around earnings, but long term structure is NOT extended by an strength

• As previous noted, the share has developed a long term base.

Slide 30 of 40 on Monday 05 July

OMU as of yesterday's close - solid push out of the falling wedge structure

Lester Davids

Analyst: Unum Capital