MultiChoice Group (MCG) is a major player in the African entertainment landscape and ranks among the world’s fastest-growing pay-TV providers, boasting 21.1 million subscribers across 50 countries. The subscriber demographics split with 42% (8.9 million) located in South Africa and the remaining 58% (12.2 million) spread across the rest of Africa. Since its...
MultiChoice Group (MCG) is a premier entertainment enterprise in Africa, standing out as one of the world's most rapidly expanding pay-TV broadcast providers. With a subscriber base reaching 21.1 million across 50 countries, MultiChoice boasts a significant footprint. The distribution of its 90-day subscriber base is notably divided, with 42% (8.9 million) in...
MultiChoice Group (MCG), a prominent entertainment company in Africa, has established itself as one of the fastest-growing pay-TV broadcast providers globally, boasting 21.1 million subscribers across 50 countries. With its subscriber base divided between South Africa (42% or 8.9 million) and the rest of Africa (58% or 12.2 million), MultiChoice's business model...
MultiChoice Group (MCG) is a preeminent player in the African entertainment sector, operating as one of the world's fastest-growing pay-TV broadcast providers. With a significant subscriber base spread across 50 countries, the company enjoys a robust presence in the market. The division of its 90-day subscriber base, with a substantial portion outside South...
MultiChoice (MCG) stands as a prominent entertainment company in Africa, recognized as one of the fastest-growing pay-TV broadcast providers globally, boasting 21.1 million subscribers across 50 countries. The subscriber base is divided into 42% (8.9 million) in South Africa and 58% (12.2 million) in the rest of Africa. Originally part of Naspers, MultiChoice was...
Couple of things with Multi-choice.
It moved on low liquidity to the downside before making a break-away gap and back into the uptrend.
Now with gaps they close over 70% of the time and so, we're getting that retest back to close the gap, retest the uptrend and possibly heading up from there.
We got the Cup and Handle, which broke up and make a fakeout. But...
MultiChoice (MCG) is a leading entertainment company in Africa and one of the fastest-growing pay-TV broadcast providers in the world with 21,1m subscribers in 50 countries. The company's 90-day subscriber base is split 42% (8,9m) in South Africa and 58% (12,2m) in the rest of Africa. The share was spun out of Naspers and separately listed on the JSE on 27th...
MultiChoice (MCG) is a leading entertainment company in Africa and one of the fastest-growing pay-TV broadcast providers in the world with 21,1m subscribers in 50 countries. The company's 90-day subscriber base is split 42% (8,9m) in South Africa and 58% (12,2m) in the rest of Africa. The share was spun out of Naspers and separately listed on the JSE on 27th...
The stock has had a rough 2023 dropping now 56% from its peak in late February.
The reversal of a false breakout can be vicious as witnessed and it's been one way traffic to the downside ever since.
There is no need to try call a bottom until a previous support is reclaimed or the chart structure develops.
MCG showing the battle being waged at the median line of a thin Pitchfork, still lean heavily on the idea that 5 July is potentially a Weekly/Yearly low point as we saw buyers step in around this level. The line that confirms a weekly low is the blue resistance & a close above the 10 week moving average. Should the share go lower than 5 July we would know that...
See link below for previous analysis.
Well, no surprise here, the stock has triggered a reset of its wave count by making new all time lows.
One really has to believe in the fundamentals of the company to take long positions in this one.
This will most probably be the last coverage of MCG for a while.
Multichoice has a carved a tight falling wedge, price has retraced to near COVID lows, we end the week with a hammer candle, now we look for a swing low confirmation and price closing above the green line for a long position.
A price action below 8300 supports a bearish trend direction.
Further bearish confirmation for a break below 8200.
The target price is set at 7700.
The stop-loss price is set at 8900.
The downsloping linear regression channel pattern remains a concern for a strong bearish trend.
The target price is also at the 0% Fibonacci retracement level.
Price has rebounded sharply off a low of R77.50
We now at the retrace zone of the major leg down.
Bulls will need to push through R88.50 to keep the momentum going . R90 will also be an important level to watch intraday to see how the tape prints around there.
NB High volume in last 30min of trading
The 61.8% retracement level is a key Fibonacci...
The last analysis on Multichoice was on 13.04.2023, link below.
The stock has traded as forecasted and has surpassed the stretch target of 8447.
Yesterday's sell-off seems to have been triggered by news that MCG was downgraded by J.P. Morgan as they believe MCG intends to ‘throw considerably more money at Showmax than what the market expects’.
The fundamentals...
A price action above 9300 supports a bullish trend.
Furhter bullish price confirmation for a break above 9800.
The target price is set at 10300.
The stop-loss price is set at 8900.
Remains a very risky trade.
MCG is now seeking a weekly & yearly low price, so far price has retracted to below 2 previous low weekly points (week 20 June 2022 & 6 September 2021), the next weekly low point R85.18.
Current weekly cycle is on week 47, previous week duration were 54, 26, 51, 41, on balance of probability we can say we are within 6 weeks to finding a bottom. The current daily...
