$JSEOMU - Old Mutual: Only For The Patient, Grinding Upwards
See link below for previous analysis.
Old Mutual has not taken off as I expected, well, given the fact that I had not looked at the fundamentals.
The stock has steadily grinded from 921 to peak at 1344 cps before pulling back to 1115 cps.
The Elliott Wave pattern formed by five overlapping waves is a leading diagonal for wave (1).
If wave (2) is complete then 1115 is the invalidation level and should be used as an aggressive stop-loss.
Only a break below 921 cps will invalidate the entire bullish outlook.
Old Mutual has not taken off as I expected, well, given the fact that I had not looked at the fundamentals.
The stock has steadily grinded from 921 to peak at 1344 cps before pulling back to 1115 cps.
The Elliott Wave pattern formed by five overlapping waves is a leading diagonal for wave (1).
If wave (2) is complete then 1115 is the invalidation level and should be used as an aggressive stop-loss.
Only a break below 921 cps will invalidate the entire bullish outlook.
