KYC0 trade ideas
Mondi (MNP) holding major supportMondi is currently trading in a 45 day bearish channel and has reached good lateral support area at the R356.00 level.
A close above R363 could possibly signal a long position.
*Disclaimer* - ideas shared in the above is for educational purposes only and IS NOT trading or financial advice.
Mondi Plc - Initially Retracing But Target Range Reached Mondi Plc - Retraced Initially But Target Range Reached.
Continues to look healthy but short term traders could look to trim.
Downward Momentum on MondiJSE:MNP is showing some nice downward momentum thanks to yesterday's strong down move. The stochastic, MACD and EMA's are all showing great potential for a short position.
Mondi Plc - E-Commerce PlayCurrent: R397.47
Toward the 3rd week of April I highlighted the share in a research report, suggesting that it's also a great e-commerce play. As you can see, I previously highlighted the potential price path, which is shows the continued consolidation. The 395-397 level is being breached but we need to hold above the highs to maintain the bullish stance. Temporary failure below R390. Target Range: 414 - 418.
Nice Cup and handle on MondiTrade Summary 11 April 2021
Entry: R377.01
Stop loss: R368.88
Risk per share: -R8.13
Quantity: 15.8
Risk ZAR: -R128.45
Risk: -1.59%%
We have a nice cup and handle pattern on the stock. I’m looking for a break above the neck line. A close above 39350c. I will add to the position and trail my stop to around 37590c. The stock seems to have shrugged off the dividend adjustment.
Bullish flag on MondiThe stock is also looking good at the moment. After staying in the R279 - R333 box for about two years. It didn’t stay long in the R333 - R366. Recently the stock broke R366 resistance, and came back to retest this level.
Taking a look at the daily chart. There's a nice bullish flag pattern. That broke out and retested the flag’s resistance. Providing a nice entry signal to add to my position.
$JSEMNPContinuation triangle pattern in Mondi Sequence of higher lows remains. Hence its still bullish.
Nice bullish flag on MNPNice bullish flag Mondi, a stock I’m currently long off. Looking to add into the position on the break out of the bullish flag. Mondi looks quite bullish at the minute
NIce bull flag breakout on MondiNice bullish flag on Mondi, but that 36514c resistance worries me a little. I will handle that by splitting my entries. enter half of my trade-in and if the break confirms I'll add the second half.
MNP: heading lower?Evening star Japanese candlestick might confirm a bearish stance.
At some major resistance.
Downside price momentum supports the bearish stance.
MONDI 1D - PULP FICTIONStochastic showing further upward potential. Short term down trend line has been broken. Positive bullish Hammer on previous day candle. Continuation of longer term rising channel. I Am buying at 326.57, stop at 314.41 and targeting 371.21.
MNP - Heading back into channelI recently posted an idea for a short on JSE:MNP and it went in our favour for a few days, but didn't last long. In the meantime, it has formed a bullish engulfing candle and has retraced all the way to the bottom of the channel again. It may find some resistance before entering the channel again but if it breaks through, we could see an upward move towards the top of the channel.
MNP - out of upward trendJSE:MNP has broken out through the bottom of an upward channel that it has been trading in since the end of April. My expectation in a previous idea is that it would bounce off the bottom of the channel and return upwards, but it has, in fact, broken through and is on its way down. It is currently on a support level and if it breaks through, I will consider a short position.
Mondi - Ascending ChannelMondi appears to be moving in a channel, indicating a possible long entry close to support line. Technical indicators suggest the share will rebound
Stoch RSI: Oversold
BB: Nearing lower confidence level
MACD is narrowing
Channel on MNPJSE:MNP has been trading in a parallel channel since mid April and it seems to be heading toward the bottom of the channel for a possible bounce upward. If it fails to break through the bottom of the channel and bounces off support, I will consider entering a long position on the move up to the bottom of the channel. I will wait for confirmation first before entering.
MNPLower highs continue to persist since price broke below 8/21 cross however possible falling wedge developing. Look for break of trend line. Resistance: R346.70-R349.20. Support: R331.50-R328.20. RSI: Neutral.
This chart forms part of a broader trading plan and should not be considered financial advice.
Bullish flag on MondiWe have a potential bullish flag Mondi. Looking for some further strength on the share. After the share tested what was a resistance level before the share broke through it.
