$JSEMTN - MTN Group: Stock In No Man's Land
The 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.
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.
