technical analysis chart

Technical Breaks, Ideas and Insights – Old Mutual Positive Break

Old Mutual made a positive break by breaking upwards through the downwards sloping resistance level at ZAR11.55.
The breakout pattern out of the large triangle formation is positive.
OMU could potentially trade higher and test the resistance level at ZAR12.75 and if breached on the upside the share could potentially test the resistance level at ZAR13.40, in our view.