The Old Mutual share price closed above the 200 moving average today

[Carl_1]

I checked the Old Mutual share price and chart, on Yahoo Finance today, and noticed that it closed above the 200 moving average, on the London Stock Exchange. The closing price was 68.2 pence (about 852 cents). The 200 day moving average is at 66.71 pence. The share price dropped below the 200 ma in December 2007 and this is the first time that the share price is above the 200 day moving average. Does this signal a strong buy signal?

[#2]

wait for a while and if it remains above the 200 day EMA then you buy as this signals change of trend for the long term, but to buy if it closes above 200 day for just a few days is risky, there will be a pull back from here, or it may reach 915c before the pull back, technicals is nearly overbought.

[ws]

Is that a reverse head & shoulders forming on oml at the moment?

[Carl_1]

It appears to be a reverse head and shoulders formation. Bullish!!

[#5]

Inverse H/S don't work well in a bear market ... but then again this could be the start of a bull market :-}

[platsak]

Anyone else going short above 900s?

[#7]

Wheres this share headed R10??Is it too late to buy sum shares now at around R9-00??Its rallied from the 12th of March - 100%..pullback due,no??

[#8]

I'd recommend getting in once it breaks R9

[jack12]

Yip I had the same thought about SAP, it looks like a bull in a china shop and only knows the way up

[Plonky]

I bought mine @ R7. I will sell them to you @ R9

[#11]

no thanks - already traded it twice with good profits. I went in at 7 sold at 820 then did it again few weeks later. Its very similar to my thoughts in SAP. I sold sap at 25 the other day to buy HAR. Sap breaks 26 then that will run to 32. oml breaks 9 then it can run to 11. Right now I am in Har as my post last week got in at 78:) People are talking about gold making new highs next few months..

[#12]

OML at 11,wouldnt that be over-priced?? Book is around 13..