JSE listed telecommunication entity, one that has a footprint in many African countries has had their share price under some pressure for some time now. Trading near near it's lowest levels pre-covid, which it broke due to panic selling during the pandemic. It then made significant recovery since those lows that hammered values with over 200% gains. All those gains have lost in the past 2 years of trading. MTN is a large South African entity with dominance considering it only has 2 other competitors it wrestles for market share. Earnings should be coming out soon, hopefully these will change investor sentiment positively.
Looking for price to close above previous support of R78.32 to signal buying taking place. This will be a value play for me, meaning I'll be looking to hold the stock as part of portfolio till I enough valid reasons to sell it. Current yield is at 4.8%, an increase in the share price would cover the below inflation return
Looking for price to close above previous support of R78.32 to signal buying taking place. This will be a value play for me, meaning I'll be looking to hold the stock as part of portfolio till I enough valid reasons to sell it. Current yield is at 4.8%, an increase in the share price would cover the below inflation return
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.