MTN on the goThe stock had a -10% correction to the 50 day EMA repelling from it almost as if they were magnets both showing each other the same magnetic pole. The stock broke through the R133.75 resistance
MTN trade ideas
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 Daily Chart - bull flag formationwaiting for close above R136,00 for pattern confirmation
Reward to Risk 3:1
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.
I'd be hanging up on MTNMTN starting to show weakness after a stellar run. If I was holding stock, I'd be selling right now. From a trader's perspective, MTN is at quite a significant resistance level with all momentum indicators starting to point lower. I don't think a short is out of the question here, and I also don't think a target of 115.00 is impossible either...
MTN - Bazooka- A massive move on MTN over the last 2 days
- We have now entered a zone of previous support turned resistance
- It will be important to see how price reacts around this level
- Do the bulls have enough firepower to keep the momentum going ?
-- MANAGE YOUR RISK - -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
Calls From The Crisis - MTN, IMP, DSY, FSR, GRTToday MTN cleared R130. Up 8.51% by end of day, even after the the news out of Afghanistan. Well done to all those involved. This post however, isn't about today, last week or even last month. It's about last year March when markets were in turmoil as the Covid crisis caused havoc in all aspects of human life. At the time, as markets were falling (JSE -35%) we took the opportunity to guide clients toward one of the greatest opportunities in recent years. On our client group, as markets were under severe pressure I hastily wrote the following note:
Red = Opportunity. A General Market Comment
A brief thought as things are moving fast.
The period 20-January to present has been extreme with the All Share Index falling by over 20000 points and the Top 40 by 35%.
Various sectors have been decimated:
For one, Platinum & Precious Metals are lower by 61% while Diversified resources are lower by 45%.
At current levels, amidst the carnage, it may be an opportune time to dip one's toe i.e. phase in / rand cost average on a medium to long term portfolio.
I dont know where the exact bottom is however here are a few names that have caught eye, and some which I have been publically bearish on for extended period of time and which has served as a portfolio protection and risk management tool.
Now some of these may be worth phasing into.
IMP now 5200c (bearish since 14600c in Jan-2020)
DSY now 7200c (second target has been reach. Sell call @ 16100c, new bank launch, optimistic valuation)
MTN now 3800c (bearish since 11500c) - Can go to 3300c.
FSR now 3648c (long term sell note at 6677c Nov 2018, it can go to 3200c)
GRT now 1100c can go to 900c (bearish since 2367c)
If you've be waiting for opportunities, these are some which can be considered and could form part of a diversified portfolio.
Please note this is not a comprehensive list since prices are moving quickly and I've had to keep it brief. Please also chat to the rest of the trading desk about additional opportunities.
Please remember
- This is an equity portfolio view, not a trading view
- diversify appropriately
- phase in/rand cost average.
Today, 17-months later:
MTN 3800c to 12999c
IMP 5200c to 24000c (also recommended in Sep 2018 at 1900c)
DSY 7200c to 12800c
FSR 3600c to 5900c
GRT 1100c to 1517c
I know it was a harrowing time, but did you take the opportunity to get involved and allocate to your medium to long term portfolio?
Volatility is often where we thrive, using down days to accumulate and sunny days to sell. Yes, easier said than done, but opportunities abound for the focused trader and investor.
If you need help in your trading and investing journey? Get in touch today.
MTN-TP target reached!MTN hitting a high of 131.99(at time of writing), reaching my 130/140 TP target as published in my August 4 idea.
Original idea below!
AG Capital -Storm trading Morning Call -13 August 2021We give a quick recap of markets overnight and the previous day and insights into the day ahead with a few trade ideas on the day.
Ideas are strictly NOT investment advice.
MTN looking very good. possible 17 to 1 R:RWe had a gap and drive pattern on Friday breaking the resistance. I moved my stop to R100.40 (+3.95% risk on the trade) I will add to my position on at market open on Monday 26 July 2021
Key levels I’m watching
R108
R111
MTN ascending triangleMTN triggered a small ascending triangle with the close above R106,50. Target on ascending triangle around R113 - R114 area.
Ideas are my own and not financial advice.
JSE-MTN - Breaks rising channel (W)JSE:MTN - MTNs have fallen below the rising channel which has been in place since mid-Feb 21
The break and close below 10403 signaled further weakness with 9304 and the 200 week MA of 9112 possible
MTN- The trade of TERRORBesides finding top line resistance and running out of "air-time", Bloomberg this morning, reported that MTN is being accused of aiding an Iraq terror campaign. whether it's true or not makes no difference. Investors will not see this in a positive light. Sell now while you can
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 - Weakness Emerging - Confirmation of Pre-Market Data Coming in this morning our short term swing data for MTN Group suggested: "Strong Upside Move But Momentum Slowing With Sellers Becoming Active".
This afternoon we are starting to see the weakness emerge with the share having developed a bearish engulfing candle at the channel resistance which is close to the linear regression channel (upper band).
The following is also noted:
- Bearish divergence on the RSI
- Price (10346c) extended well above 200-day (7268c).
For short term traders, possibly some caution on buy/long side.
MTNPrice attempting a break of the 100/105 resistance area on the weekly. Once that's out of the way I reckon 140 soon.
Price in overbought territory though, so its possible we might get a pullback before the break!
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.
MTN: higher highs and higher lows?Repetitive nature of the recent price action remains of interest.
Above 9504 supports a bullish trend direction.
RSI is at 61, leaving enough room for further upside price potential.
Price action also remains in an inclining channel pattern (see the parallel dotted trendlines)
