MTN BUllish signal kicked in to R131.91 - SELL!I am the absolute worst person to do analyses on MTN.
I never get it right (over the last 20 years), and yet I keep providing analyses.
SO if you want to actually make money with MTN, just do the opposite of what MATI Trader system says lol.
W Formation (Breakout)
Price above 20 and 200MA
Target R131.91.
So in other words SELL and don't listen to me.
MTN
MTN just took a nose dive with a scary down target of R47M Formation formed on MTN, with the price breaking out on 13 June 2024.
We see price below 20SMA and 200SMA showing a high probability analysis.
And there are two downtrend lines confirming the momentym of downside.
First target will be set to R47.34
UPDATE: MTN Diamond Break down and heading to R60.65This has been a long winded analysis.
We sent out this one on 22 Dec 2023, which gave a Conservative entry from the Dimaond Breakdown.
And now the momentum is picking up to the downside.
We also have an Reverse Inv Cup and Handle which is rare but also effective.
The Nature is still High probability as the Price is below BOTH 20MA and 200MA.
Target easily still to R60.65
UPDATE: MTN on the way to the R60.65 level :(Diamond Formation formed on MTN.
This is a broadening pattern that could have broke either way. The fact that it broke down and almost retested the 200MA showed the momentum was down and bearish.
Now it's on a one way trip down. First to R90.00 at next support
If it breaks below we could very well see our main target at R60.65
FUNDAMENTALS
MTN Group, a big telecom company in Africa, is facing a serious lawsuit in the US.
They are accused of doing business with a group linked to terrorism, which could have helped fund terrorist activities.
This is a big deal because it's the first time a company might be held responsible in the US for helping a terrorist group. Because of these legal issues, investors might be worried about MTN's future.
This concern can lead to a drop in MTN's stock price, as investors might sell their shares fearing potential financial losses or damage to the company's reputation.
MTN Black Diamond to take the price to R60.65?Diamond Formation formed over ther last two years with MTN.
Now initially, you wait for a breakout before you trade a broadening pattern like the diamond.
And then, we saw it break below - showing the momentum and supply was higher to the downside.
I sent this analysis out and called it a short investment. What that means is that this type of trade is a LONG hold and it will take time to hit the target. Luckily with CFDs you'll earn interest on the trade.
And as price is staying below the 200MA, the target is still on to R60.65
Thoughts?
UPDATE: MTN heading to test the mighty 200MA before downsideThe Broadening Diamond formation has finally broken below. The price came down but on weak selling volume.
Now it seems to head up to test the 200MA before deciding which main direction it wants to go.
THe overall prior trend was down and the breakdown was also confirming for the bears.
WIll have to wait for a conservative approach for the price to test the 200MA before taking any action.
#MTN Risks aplenty but reversing off bottom of its channel #JSEThe chart doesn't need much explaining. The stock is trying to reverse off the bottom of the 1-year channel while forming some divergence on the RSI. A move above todays high should hopefully see this gain some momentum, with a short term move to R119 possible. Larger target would be for this to trade back to the top of its channel over the last year at R144. Note: Risks plenty here with all the happenings in the middle east so it is a higher risk trade and i would advise to use a tightish stop loss on this trade.
MTN Vail Resorts Options Ahead of EarningsAnalyzing the options chain and the chart patterns of MTN Vail Resorts prior to the earnings report this week,
I would consider purchasing the 240usd strike price Puts with
an expiration date of 2023-10-20,
for a premium of approximately $9.05.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking forward to read your opinion about it.
Which way will MTN break out of the Diamond?Diamond Formation has formed since September 2022.
This is a weekly chart because MTN is by far the most difficult market to analyse.
It is famous for moving sideways for extended periods of time. Then it eventually breaks out and moves in a trend for a short but powerful period.
This is only a market for trend traders who wait for the big move.
Or for range bounded traders who buy and sell within the range.
My ego is not high enough to choose a direction, so when it breaks out - we can choose to go long or short.
7=21
Price>200
Target up R203.90
Target down R60.65
Counter-Trend Masochism, Part 2JSE:MTN Another trade that says in big neon letters, Don't Do This
If you have a penchant for masochism, and don't see the sense in the broad, thoughtless rally in SA Inc, then note the following:
- RSI at 80 is ready for a downtick
- MACD, still strong, has started slowing
- Momentum has stalled in the last 3 days, some long wicks on both sides of the candle
Price currently also in a well defined supply area, offering clearer stops and some decent muck in the middle to get out in.
I'm shorting at or around R145.00, stop/shucks I'm wrong at R149.50 and a TP of R128.40 gives a risk reward of 3.8
But don't bet the farm. This trade screams bad idea.
MTN Rev Cup and Handle on Daily showing strong upside to come Rev C&H has formed on MTN.
The price has broken above the brim level and also it's broken above the downtrend since 11 March 2022.
So this looks good for upside. However there is a warning.
7>21
RSI>50
Target R165.39
WARNING:
I never ever get MTN right in all my 20 years of trading the JSE, so take this with a pinch of salt.
MTN is on my S&^t list and yet, I try do an analysis every few months.
Has a mind and personality alone.
MTN Update Still on track and crashing down to 90.29Head and Shoulders formed on MTN a month ago.
We did this prediction analysis showing the market entering into a bear market.
Also, the price broke below the neckline showing downside to come.
Price<200 21>7 - Bearish
Target is still on board to R90.29
SIDE NOTE and TIP:
Banks, Insurance and Telecomms are normally the ones to crash first before the rest of the market follow.
I call it BIT.
BITs to fall before the pieces!
MTNJSE:MTN at an area of value. Besides the potential support level, the stock has been trading "bearishly". Not expecting the support to hold, and that recent rally seems to have been a bearish flag. Technically, I wouldn't be surprised if JSE:MTN breaks below this level. But the market is full of surprises. No position.
MTN going up to R136.82 before going down to R90.29Head and Shoulders formed on MTN yet again.
Price<200 21>7 - Bearish
RSI<50 bearish
Target R90.29
SMC (Smart Money Concepts)
Bearish Fair Value Gap formed hence the big candle down.
Now due to the 1st and 3rd candle not overlapping, means we can expect the price to move up close the gap before moving down again
This gives a buy signal on the short term side with the Bearish FVG to R136.82
MTN neutral stand with a bullish bias with to R157.65 -Confused?Box Formation formed on MTN and the Prev. trend up
We need the price to break either ABOVE or BELOW the formation before I make any decisions.
The funny thing about MTN is how consistent the sideways moves have been for decades.
It has a personality of its own and is only something you pick up after being in the markets for a few decades.
Anyway, I like to think my bias is bullish but the signals are mixed.
21>7 price>200 - Mixed
RSI<50 - Bearish
Bias bullish target R157.65
ABOUT
MTN Group Limited (over R200 billion market cap) is a multinational telecommunications company headquartered in Johannesburg, South Africa.
The company was founded in 1994 and has operations in over 20 countries in Africa, Asia, and the Middle East.
MTN is the largest mobile network operator in Africa, with over 280 million subscribers
The company offers a wide range of telecommunications services, including voice and data services, mobile money, and digital services.
In addition to its mobile network operations, MTN has also invested in a number of other business ventures, including e-commerce, fintech, and energy services.
MTN Cup and Handle target to R168.75 - But warning!MTN Cup and Handle formed and the price has broken up and out of the brim level.
We are however seeing mixed signals.
7>21 <200 - Mixed
RSI>50 - Broken buy divergence
Also the price has come down which gives a conservative entry.
Bullish bias
Target R168.75
CONCERNS:
MTN for over a decade and has been on my naughty list. It seldom works with the system and it yields very slow results and returns when it does.