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Kavanagh tips Ingenta and Old Mutual in his Sunday TImes column today so here is a quick and dirty bit of TA on them. Of course the tips are buys.
Ingenta - recovering from a dead cat bounce when the price dropped 30% from around 260 down to 200.
Seems to be losing momentum and getting ready for a steady fall. On Balance Volume and Nagative Volume Index show characteristic signs of distribution although the smart money has got on board for the bounce.
My opinion: Maybe a good long term buy and hold but there will probably be a better entry point.
Old Mutual - has done well in the last 5 days as the stock bounced off of support and moved up. OML has has a good run in the last 3 months but has broken out of the upward trend and currently shows downward trending characteristics using the 28d Directional Movement Indicator.
On Balance Volume and Negative Volume Index show signs of distribution since the beginning of the year as the public buys in and the smart money moves on.
The Life Insurance Sector is trending downwards too.
My opinion: Maybe a good long term buy but let the trend be your friend and seek a better entry point.
No financial advice intended.
Darth.
Ingenta - recovering from a dead cat bounce when the price dropped 30% from around 260 down to 200.
Seems to be losing momentum and getting ready for a steady fall. On Balance Volume and Nagative Volume Index show characteristic signs of distribution although the smart money has got on board for the bounce.
My opinion: Maybe a good long term buy and hold but there will probably be a better entry point.
Old Mutual - has done well in the last 5 days as the stock bounced off of support and moved up. OML has has a good run in the last 3 months but has broken out of the upward trend and currently shows downward trending characteristics using the 28d Directional Movement Indicator.
On Balance Volume and Negative Volume Index show signs of distribution since the beginning of the year as the public buys in and the smart money moves on.
The Life Insurance Sector is trending downwards too.
My opinion: Maybe a good long term buy but let the trend be your friend and seek a better entry point.
No financial advice intended.
Darth.
