JSE: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.
That was a disappointing breakout failure from JSE:MTN . Most of the MTN African subsidiaries reported decent results, and the Group came out with decent numbers. The tape is just weak.
JSE:MTN buyers seem to have ignored the foreign tax issue. JSE:MTN was attempting to trade above the 150MA prior the SENS, the stock has managed to come back above the level, and past want we considered to be a resistance level.
