The short and the long of it

Both San­lam and Old Mu­tual again on edge of break­downs

Finweek English Edition - - Creating Wealth - COLIN ABRAMS

LIFE IN­SUR­ANCE STOCKS (along with most sec­tors) have given a good re­lief rally re­cently but now ap­pear headed for an­other down leg. The charts of the two big­gest com­pa­nies in that sec­tor – Old Mu­tual and San­lam – are shown, with a short-term out­look for them. Frankly, it’s a ques­tion of whose chart looks worse. Both stocks are on the verge of an­other break­down, which is again an op­por­tu­nity for short sell­ers to cap­i­talise on. Old Mu­tual is my pre­ferred “short” – which means San­lam is the more de­fen­sive of the two. Please note: For more charts by the au­thor on shares, in­dices and com­modi­ties please go to www. the­mar­ket.co.za.

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