MTN GROUP LTDLong
$JSEMTN - MTN: Is The Bottom Finally In? 7043cps Holds The Key
See link below for previous analysis.
MTN did not take long to reverse aggressively after the previous analysis.
The bounce from 7043 cps looks impulsive and has broken above an intermediate trendline with wave 5 of (C); I will get more conviction with a break above 9876 cps as that will confirm that wave 5 is complete in the context of the ending diagonal.
The MACD also shows positive signals; there has been strong convergence below the zero line and the momentum indicator has broken a strong resistance trendline above the zero line.
I am bullish above 7043 cps with a buy the dips strategy.
MTN did not take long to reverse aggressively after the previous analysis.
The bounce from 7043 cps looks impulsive and has broken above an intermediate trendline with wave 5 of (C); I will get more conviction with a break above 9876 cps as that will confirm that wave 5 is complete in the context of the ending diagonal.
The MACD also shows positive signals; there has been strong convergence below the zero line and the momentum indicator has broken a strong resistance trendline above the zero line.
I am bullish above 7043 cps with a buy the dips strategy.
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