The short and the long of it
Both Sanlam and Old Mutual again on edge of breakdowns
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.