MTN trade ideas
@VillageTraderZA Off we go on $MTNTensions between Russia and Ukraine have escalated to military war. Commodity prices rallied as the tension heightened. Brent crude made all high hitting $102.09. MTN's largest market is Nigeria which also happens to be a large supply of oil and gas. Largest in our continent & ranks 11th in the world on oil production. As NIgeria benefits from high commodity prices amid the war, so does MTN, through it’s Nigerian exposure.
Because MTN is an indirect play in the war story, as it’s neither a supplier nor consumer of oil. It’s a much better risk reward opportunity. As it stands to have much less volatility compared to the more direct plays like commodity stocks such as miners & petroleum stocks.
MTN not looking so AyobaAfter "topping out" MTN has now breached it's 50 day Moving average at around 159.00 and looks to making an attempt to re-test the bottom of the rising trend line. However... all momentum indicators are looking weak and if that "support is broken, I feel that 147.00 may be on the cards