MTN Group
MTN GROUP (MTN) - On Monday 24 October I discussed the share potentially trading lower and rebounding off the trend line (lower boundary). Subsequently, we saw a sell-off on the same day, followed by a strong reversal in the following session, with continued upside through to Friday and a six-week high of 13881c. Potential upside resistance is the channel trend line which is in line with the 61,8% FIB retracement (14193c). Dip-buyers would look to 12600c to 12800c as potential re-accumulation zones.
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