MTN - ShortJSE:MTN is looking good for a short. If triggered, we are aiming for a move down towards the R107 area.
MTN
MTN JSE:MTN is at an area of value. Given the tough market conditions I won't be surprised if it moves lower.
MTN also showing a crash Inv C&H formed over the last couple of months.
Broke below brim - R135.00
Target 1 R70.10
MTN, not looking goodJSE:MTN weekly close will be interesting. The stock has been on a downtrend for a while now. It opened the week, weak, and a close below R130/share can see it test R122, or worse, R108. Tread carefully.
MTN at an area of valueJSE:MTN is back at an area of value. The stock attempted to rally following the proposed JSE:TKG takeover, both stocks enjoyed a mini-rally. The rally ran out of steam last week, and now JSE:MTN is back at the support level. A catalyst is needed here to push the stock up, otherwise a potential breakdown may play out. No position.
MTN Breakthrough and RetestLiking MTN here for a long, broke through the resistance and came back to retest.
Hopefully market turmoil doesn't get in the way.
What do you think about this setup?
MTN Downward MomentumJSE:MTN is looking good for a short position because the Stochastic and the MACD turned down a few days ago and more recently the EMA's have crossed downwards. I think we could see a move all the way down to the support level around 10500
MTN Group Limited RSI indicators are showing exhaustion. The stock looks overbought and is facing strong resistance at R130.
As a trader, I wouldn't want to buy the top right now. I'm looking for a pullback to (+- R115) before I enter a position again.
There is no denying that MTN has been a top stock to own in 2021, and this uptrend should continue, but in the short term I'm expecting a 10% pullback and then a retest to current levels of R130. If it can break out of R130 then R150 is on the cards.
Pullback to R115 -( Ideal entry )
Retest of R130+ then some consolidation, then a breakout to test R150.
30% upside reward from R115 levels.
Not financial advice.
MTN making a run for 13742The share price of MTN Org has broken the trendline and closed above it as it makes a run for the next high at 13742.
MTN Group LimitedI'm long MTN with a price target of R104.
I think the bull flag forming in MTN is signalling that the uptrend is going to continue.
Stop loss at R91.50. However, long term I still think it is a fantastic share to hold.
Where to for MTN?The upward channel is still in play, monitor for break.
Weekly indicators look edged to turn negative.
Cup & Handle on MTNA Cup and Handle pattern has formed on JSE:MTN .
The Cup with Handle is a bullish continuation pattern and as its name implies, there are two parts to the pattern: the cup and the handle. The cup forms after an advance and looks like a bowl or rounding bottom. As the cup is completed, a trading range develops on the right-hand side and the handle is formed. A subsequent breakout from the handle's trading range signals a continuation of the prior advance.
I will look to enter long if it breaks above the high of 11 Nov with a optimistic target at the resistance around the 8800 level.
Bearish engulfing candle at resistance.After a few doji candles, JSE:MTN has developed a bearish engulfing candle at a resistance level. This is the sign of a possible reversal. I will keep an eye on this and if it breaks lower, I will consider a short position taking it all the way to either the 200SMA or the support level at around 5500.
MTN Bouncing off supportJSE:MTN is looking good for a long position if it breaks higher than yesterday's price action. The stochastic as well as the MACD are both showing buy signals. I'm going to wait for confirmation above yesterday's levels before entering long.
MTN GROUPalways remember that nothing is guaranteed in the market, setups are often invalid. This is based on what we see on the charts, the chart is currently showing downside movement for mtn group.
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MTN - Bull flag in the makingClose above previous highs of R64 will trigger the long. Keep an eye for the break. First target is R68 with 2nd target at R72.30
MTN Break OutMTN breaking out of resistance, hoping it can move higher.
Disclaimer: The views provided herein do not constitute financial advice.
Please feel free to comment, critique or add to my view, I welcome feedback, whether it agrees with my views or not.
This idea is based on my strategy, please consider your own before using it in any way. Always use a stop-loss and manage risk.
MTN Descending Triangle FormationMTN is forming a bearish descending triangle pattern. I recommend entering into a short position once a downward breakout occurs.
EM1 Signs agreement with MTN Emerge Gaming signs a 2 year agreement with MTN to distribute and market Emerge’s mobile competition and tournament platform technology. Huge potential with big profits for both companies. Great exposure for EM1 with MTN being the eighth largest Mobile Network Operator in the world and the largest in Africa. MTN has committed to invest into the marketing support and prizes in the first 12 months of the agreement. EM1 has also stated they have efficient cash on hand to fund the launch of the MTN Arena platform.
In my analysis I have marked the support and resistance zones.
leave a comment if you have any other ideas.
