Get started
MTN GROUP LTDMTN GROUP LTDMTN GROUP LTD

MTN GROUP LTD

No trades
See on Supercharts
Overview Financials News
Ideas
Discussions Technicals Forecast Seasonals Bonds

MTN trade ideas

Bearish divergence on MTNThe MTN share price has steadily improved since creating a low of R75.05 in February. The recent uptick has seen it touch a short-term high of R111.23. The upward momentum seems to be reducing however, and the stock has struggled to break above the R110.00 horizontal resistance. This solid resistance could potentially form a turning point for MTN. Especially with the bullish run of the last few months running out of steam. What interests me more though, is the bearish divergence on the MACD. Have a look at the chart. MTN reached R106.47 in April and then R111.23 in June. In other words, the stock went higher, yet the MACD went lower. Now MTN is again near the high of June but the MACD is still going lower. That is a classic bearish divergence and indicates we might see a change in trend from bullish to bearish. On top of that, the Slow Stochastic also shows MTN to be overbought at current levels. This is adding to the bearish sentiment. Action: Place a Limit order to SELL at R110.00 or better with a Stop Loss set at R122.50. I will aim to take profit at R100.00 and R90.00 respectively.
JSE:MTNShort
by UnknownUnicorn3689126
Y'ello...look who's backMTN definitely back on the radar. After a few years of constant bad news, good news lately pushed the share price above its diagonal resistance line, which started in January 2018. Over the shorter term, the 14 day RSI are indicating that $JSEMTN are extremely overbought. Should the share price take a bit of a breather, a close below R92 would put the company back in the same downward trend. A breakthrough these levels could see MTN try and find support at its 200-day (R90.27) and 50-day (R88.95) averages. It seems while NYSE:JMIA (MTN holds 29.7% of the company) is running 10% plus per day on average, support should remain favorable for MTN as well. The share price is also getting mighty close to a Golden Cross. On the upside, next target on the company is R110, which places MTN on a forward PE (31 Dec 2020) of 14.5 times and a forward dividend yield of 5.52% (all according to Thomson Reuters).
JSE:MTNLong
by SchalkLouw
JSE:MTN | #WeGotU... down to R71.00?OK, maybe I'm getting a bit ahead of myself. However, let us consider the R108 level where price finds itself. Price bounced off R108 in early 2016, late 2016 and mid-2017. A year later, the bulls couldn't hold the level and down she tumbled. Finally, more than 12 months later, we're back up against R108, now testing it from below. And we don't know yet whether price will break through or not. So how to trade this market? A close below last weeks low would be good enough for me to look for the short...down to R71.00 Alternatively, a push higher and bounce off R108, turning resistance into support sets the bullish case.
JSE:MTN
by glennhowell
$JSEMTN has turned technically bullish on the dailyI don't want to use this chart to give targets but merely as an illustration of what a very strong technical chart looks like. Firstly as can be seen by the price action we have seen successive higher lows and higher highs on MTN which is very much a characteristic of bullish chart. Adding to that, we have also seen all the major moving averages cross upward and above the 200 day moving average. This chart has all the characteristics in place for further upside to present itself. I would be a buyer on any dips in the MTN share price. If the stock closes below the previous high/low level of R97.00 that would be my stop loss.
JSE:MTNLong
by MarcoOlevano