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MTN trade ideas

#MTN Risks aplenty but reversing off bottom of its channel #JSEThe chart doesn't need much explaining. The stock is trying to reverse off the bottom of the 1-year channel while forming some divergence on the RSI. A move above todays high should hopefully see this gain some momentum, with a short term move to R119 possible. Larger target would be for this to trade back to the top of its channel over the last year at R144. Note: Risks plenty here with all the happenings in the middle east so it is a higher risk trade and i would advise to use a tightish stop loss on this trade.
JSE:MTNLong
by MarcoOlevano
With MTN at these levels could we see more downward movement?JSE:MTN went on a rally in March 2020 from lows of R26.25 and painted a high at R211.49 The instruments seems to be in a pullback phase after that strong bullish impulse. Price is currently painting a falling wedge, which may be a signal that a reversal of the current downward momentum might be in play. over the short to medium term, price may consolidate between R118.72 and R104.00 before plunging to levels between R95.02 and R96.94, which coincide with the 61.8% retracement level of the bullish impulse, and also coincides with the lows of May 2010 before the stock rallied to paint its alltime high of R263.44 in September 2014. Probable medium term movement from current levels is to the downside and for price to slip below R111.00. Levels to lookout for are R104.00 and R96.94. Only if the instruments starts to consolidate and give a bullish pattern above R118.72 can we expect some interested buyers to show up. Like, comment and follow if above analysis was helpful.
JSE:MTN
by Source_Sailor
$JSEMTN - MTN: Consolidation Triangle Breakdown See link below for the last coverage of MTN. The stock has been moving sideways since October 2022 and over this period, I was tentative to the labelling of the consolidation. Recent price action has given me more perspective and it looks like the larger structure from 21149 is a zigzag with an impulse for wave (A), triangle for wave (B) and the current sell-off looks impulsive for wave (C). There are no reversal signs yet so I will maintain the bearish stance in the short-term.
JSE:MTNShort
by Loyiso_BlaqueSoros_Mpeta
Which way will MTN break out of the Diamond?Diamond Formation has formed since September 2022. This is a weekly chart because MTN is by far the most difficult market to analyse. It is famous for moving sideways for extended periods of time. Then it eventually breaks out and moves in a trend for a short but powerful period. This is only a market for trend traders who wait for the big move. Or for range bounded traders who buy and sell within the range. My ego is not high enough to choose a direction, so when it breaks out - we can choose to go long or short. 7=21 Price>200 Target up R203.90 Target down R60.65
JSE:MTN
by Timonrosso
$JSEMTN - MTN Group: Stock In No Man's LandThe short outlook of the last update was quickly invalidated, link below. The count from 21149 to 11262 remains valid, what has become complex is the sideways consolidation from 24 October 2022. The advance from 11262 to 14942 is in three waves. The decline from 14942 to 10735 can be labelled as a three or five wave move, and this is the subjective element that makes real-time wave counting tricky and requires an open mind and probabilistic thinking. The advance from 10735 to 14591 looks more like a three wave move. Sideways patterns can either be flats, triangles, or combinations and with so much uncertainty its best to say that MTN is currently in no man's land. I will sit on my hands until there is better clarity on the price structure.
JSE:MTN
by Loyiso_BlaqueSoros_Mpeta
MTN Showing Bullish Flag & PoleMTN is dropping into a daily cycle low, price has formed a flag and pole formation, when price confirms a cycle low by closing above the resistance of the flag, we would expect a target price of around R162. Also of interest is the inverted Head & Shoulder pattern which would guide price higher. At current level we have support of the 30 week moving average and 200 day moving average. More risk accepting trader can enter on swing low confirmation on the daily chart.
JSE:MTNLong
by runyamhere
MTN: Catching the Bullish Wave - Eyeing R159 Target!MTN: Catching the Bullish Wave - Eyeing R159 Target! 1. Price Formation: The price has broken out from a Falling flag price formation on a daily chart. The "Falling flag" pattern is considered a bullish reversal pattern, indicating a potential upward trend. 2. Moving Averages: The 7-day moving average (MA) is above the 21-day MA, which is a positive sign indicating short-term bullish momentum. 3. 200-day Moving Average: The 200-day MA is just hovering. This could suggest a potential shift in the overall trend, as the price approaches or hovers around this key long-term moving average. 4. Relative Strength Index (RSI): The RSI is greater than 50, indicating bullish momentum and potential further upward movement. 5. Price Target: R159 Concern: The rising strong trend line from March 2020 may provide a resistance to break
JSE:MTNLong
by Sahle
MTN - Swing Long IdeaMTN has formed a bullish flag pattern that could see it rally towards R146 initially. Bulls will need to hang onto the 50dma around R130 to keep this idea in play or risk a further down leg to R126.50 - R122.00 A bull flag is a bullish chart pattern that occurs when a stock is in a strong uptrend but then has a slight consolidation period before continuing its trend up. The pattern is formed by two parallel trend lines that form a rectangle or flag shape. The flagpole is the distance between the high of the first impulse wave and the low of the consolidation period. The flag itself is formed by parallel trend lines that slope down against the trend. The pattern is completed when the price breaks out above the upper trend line of the flag.
JSE:MTNLong
by Trader-Dan
Counter-Trend Masochism, Part 2JSE:MTN Another trade that says in big neon letters, Don't Do This If you have a penchant for masochism, and don't see the sense in the broad, thoughtless rally in SA Inc, then note the following: - RSI at 80 is ready for a downtick - MACD, still strong, has started slowing - Momentum has stalled in the last 3 days, some long wicks on both sides of the candle Price currently also in a well defined supply area, offering clearer stops and some decent muck in the middle to get out in. I'm shorting at or around R145.00, stop/shucks I'm wrong at R149.50 and a TP of R128.40 gives a risk reward of 3.8 But don't bet the farm. This trade screams bad idea.
JSE:MTNShort
by unclecool787
MTN Rev Cup and Handle on Daily showing strong upside to come Rev C&H has formed on MTN. The price has broken above the brim level and also it's broken above the downtrend since 11 March 2022. So this looks good for upside. However there is a warning. 7>21 RSI>50 Target R165.39 WARNING: I never ever get MTN right in all my 20 years of trading the JSE, so take this with a pinch of salt. MTN is on my S&^t list and yet, I try do an analysis every few months. Has a mind and personality alone.
JSE:MTNLong
by Timonrosso
3
$JSEMTN - MTN Group: How Big Can This Bear Get?MTN stock has shed almost 50% of its value from the March 2022 high of 21149. Yesterday, the group released a quarterly update for the period ended 31 March 2023 which is a must read for a fundamental perspective. Technically, the price patterns are becoming clearer. The prolonged sell-off from 21149 to 11262 is labelled as an impulse for wave (A) with wave 5 terminating the move in an ending diagonal. The bounce from 11262 to 14872 is a clear three-wave zigzag for wave (B). The bear seems to have resumed with strong downside price momentum and thus far looks to be unfolding in another impulse with price in the middle stages of wave 3 of (C). I will maintain this bearish stance as long as price remains below 13267, above 13267 I will revise the wave count and outlook.
JSE:MTNShort
by Loyiso_BlaqueSoros_Mpeta
2