MTN GROUPMTN GROUP limited a potential buy opportunity a bounce on key level waiting for confirmation
LL6 trade ideas
$JSE-MTNJSE:MTN
If you believe that "From false move comes fast move" than you should be shorting $JSEMTN here.
MTN -Daily falling wedge broken to upsideMTN has broken up from a falling wedge pattern = Bullish
R:R - 1 : 2
#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.
Bullish Engulfing on MTNA bullish Engulfing has formed on JSE:MTN . This means that it is possibly going to reverse into an upward direction.
$JSEMTN WEEKLYMTN WEEKLY is finding SUPPORT around the R94.20 level, this area was previously RESISTANCE. The STOCHASTIC is OVERSOLD, pointing upwards and crossing the TRIGGER line.
$JSE-MTN hourlyJSE:MTN
Stuck in consolidation (flat top triangle) consolidation for some time.
Trading statement this morning and looks market likes it so far.
Break above 9600/9650 will open target around 10000/10100.
JSE:MTN Short ideaNot a pretty one for MTN shareholders.
Following the previous impulse to the downside, the price has bounced to 61.8% fib.
A break below could extend to 100% of the previous leg
$JSEMTN WEEKLYMTN has formed a HAMMER candle on support on the WEEKLY. A HAMMER is typically a BULLISH candle when it occurs in a down trend and can signal a trend reversal. If the share price does reverse, the next resistance is around R110.
MTN -Technical UpdateWe may derive the following from the Daily MTN chart:
1. Price was slightly bullish last week, after dropping from our resistance level (purple box).
2. It is probable that price will test the trend resistance line and continue further down to the main support level.
3. Monitor price action and be patient before trading.
4. As always - maintain your risk.
Note: The views provided herein do not constitute 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.
$JSE- MTN Broke below 9800as discussed earlier in the week. a break below 9800 may send price down to 8700
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.
