MTN GROUPMTN GROUP delivered good results but they may not matter much if oil prices don't recover soon"i still see a downwards movement on this company
MTN
MTNA little more drop to the 78.6 Fib level then we go in with buyers to the 50.00 Fib level which is also a previous SnD
MTN ANALYSIS On a weekly chart the stock is on a clear bear market with the big gap as the supply zone.
MTN at an important inflection point.The MTN share price is at a very interesting inflection point. The Level of R85 is where we find both the trendline support which formed from the September 18’ lows as well as the declining channel which has formed since June. The moving averages are configured with a slight bearish bias so I would not look for extended targets here, but given that the 200 day moving average is still pointing higher gives me some comfort that the bearish trend is not too extreme and the probability of a bounce is likely. Look to buy between R85 to R87, using a stop loss as a close below R84.00. On the upside I would look for a target of R92 which is the same level the stock recently found support (should now turn into resistance). For extended targets it is possible that the stock might retest the upper end of the declining channel which is at R96 and declining daily. I am also seeing some divergence on the RSI which matched its previous low, even though price made a new low. This could potentially be warning of a rally to come.
Enter - R85 to R87
Stop loss close below : R84
Target : R92 and R96
MTN turning pointJSE:MTN is bouncing off a string support level and could turn for an upward move. Stochastic is confirming the momentum.
MTN GROUPMTN GROUP limited a potential buy opportunity a bounce on key level waiting for confirmation
#JSEMTN - LONG Idea - Price is at a trendline support
- Divergence has appeared on the stochastic oscillatior.
- Looking for a bounce to revert to the mean
- SL & TP on chart
- MANAGE YOUR RISK -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
MTN Bounce off strong supportJSE:MTN has failed to break through a strong support level and seems to be bouncing for an upward move. The stochastic is also in oversold territory which further signals a possible reversal.
Bullish Engulfing on MTNJSE:MTN is showing a bullish engulfing candlestick pattern due to yesterdays price action. It's looking good for a long position.
South African Telecomms pairNew +TKG / - MTN pair at 0.7554 with a target of 0.825 (TP1) and 0.92 (TP2)
MTN: Vail Resorts has a nice weekly trend...I like the chart here, $MTN has some nice upside potential, both from a technical and valuation stand point.
As long as prices don't slide below $216, we can expect a 10 week rally from here, reaching prices as high as $295 possibly.
Best of luck,
Ivan Labrie.
MTN at strong resistanceJSE:MTN is currently at quite a strong resistance level and the expectation is that it will find resistance again. If it bounces off the resistance level, we will look to enter a short once it breaks through the fractal of 26th of July.
If it breaks through the resistance, we could possibly be looking at a potential long position.
Bearish divergence on MTNThe MTN share price has steadily improved since creating a low of R75.05 in February. The recent uptick has seen it touch a short-term high of R111.23. The upward momentum seems to be reducing however, and the stock has struggled to break above the R110.00 horizontal resistance.
This solid resistance could potentially form a turning point for MTN. Especially with the bullish run of the last few months running out of steam.
What interests me more though, is the bearish divergence on the MACD.
Have a look at the chart. MTN reached R106.47 in April and then R111.23 in June. In other words, the stock went higher, yet the MACD went lower. Now MTN is again near the high of June but the MACD is still going lower.
That is a classic bearish divergence and indicates we might see a change in trend from bullish to bearish. On top of that, the Slow Stochastic also shows MTN to be overbought at current levels. This is adding to the bearish sentiment.
Action: Place a Limit order to SELL at R110.00 or better with a Stop Loss set at R122.50. I will aim to take profit at R100.00 and R90.00 respectively.
MTN Symmetrical Triangle BreakoutJSE:MTN has broken out of a symmetrical triangle and is looking good for a short position. Personally, I would wait for a confirmation by it breaking through the fractal on the 13th of May before entering a short position.
$JSEMTN has turned technically bullish on the dailyI don't want to use this chart to give targets but merely as an illustration of what a very strong technical chart looks like. Firstly as can be seen by the price action we have seen successive higher lows and higher highs on MTN which is very much a characteristic of bullish chart. Adding to that, we have also seen all the major moving averages cross upward and above the 200 day moving average. This chart has all the characteristics in place for further upside to present itself. I would be a buyer on any dips in the MTN share price. If the stock closes below the previous high/low level of R97.00 that would be my stop loss.
VODACOM (VOD) DAILY TIMEFRAME LONGNever has there been so many multiple confluences on a single chart as this one. Firstly, price formed a head and shoulders pattern on the weekly chart, and tumbled down after the completion of the right shoulder and breach of the price below the the neckline. Secondly, prices have managed to stay under the neckline, which was a key psychological level at 14 000. You know how crazy people can be around round numbers. Also, the price is moving in a steady downtrend as depicted by the lower lows and lower highs and the descending trendline unmasks this. Price is now around the 12 000 key psychological area and the lower timeframes already show a rejection in the form of a bearish candle. I expect prices to continue going down. A fail-safe would be to wait for prices to approach the descending trendline and opening short position once clear signs are given.
I would like to thank all the readers and fans for showing love and supporting my content. If you want me to cover a particular asset/security, please dm me.
MTN DAILY TIMEFRAME LONGThis stock recently broke out of a descending trendline,and is currently retesting either the trendline itself or a support zone. I am of the opinion that t his stock will resume going up once enough buyers enter the market. Traders can possibly look to enter a long position at the 9 615 level, which rep [resents a support level.
