Motus (MTH) was spun off from Imperial Holdings and made its debut on the Johannesburg Stock Exchange (JSE) on 22nd November 2018. As a standalone entity, Motus operates a comprehensive motor vehicle business, with its activities spanning across South Africa, the United Kingdom, and Australia. The company is organized into four main divisions: import and...
Motus (MTH) was unbundled from Imperial (IPL) and separately listed on the JSE on 22-11-2018. It is a company that owns motor dealerships in South Africa, the UK and Australia. The company has four divisions - import and distribution, retail and rental, motor-related and financial services and aftermarket parts. It imports and sells more than 80 000 vehicles per...
Triple Bottom seems to be forming on Motus.
The price has broken above the downtrend, showing the bulls are trying to get into control.
Right now there is a consolidation period where we're seeing a higher bottom and the price will need to break above the neckline of the Triple Bottom.
Another clear sign of consolidation is the fight between the MAs......
Keep an eye on Motus, After reversing off S1 weekly pivot as well as the 200wma, chances are good for a range trade back to the top of the box between R105-R108.
Entries between R87-R92 (closer to R87 the better), Stop loss a move under R82, with targets at R105-R108. If you manage to enter around R88 thats a R6 risk for a potential move of R17 to R20 to target,...
Premature W Formation has formed on Motus.
Right now it's battling between the sideways formation along with the resistance being the top of the trend line and the boss 200MA...
Once it breaks above there, it will test the neckline. If it tackles through the neckline, only then will it look good enough for upside to come.
But first, we need to wait for...
after JSE:MTH suffered a share price beat down in September 2022 from its highs of R136.00, it found support in January 2023 around R105.00 to R131.60 only for it to resume its melt down like an icecube in the sun from 7th February 2023 and broke the R105.00 support all the way down to R88.30.
Price has now been in a rising wedge retesting the broken support....
The last coverage on Motus was on 07.04.2023, link below.
The stock has consolidated in what looks to be a rising channel.
It is still early days but the bulls have yet to show initiative by bidding the stock aggressively from the 8828 low.
Rising channels are bearish continuation patterns.
Price can consolidate for a longer period and continue to make new...
Triple Bottom has formed on Motus after the last few months.
And just recently, the price has broken above the neckline of the pattern,
This is bullish for an investor as there is extensive upside to come, by the looks of things.
7>21 bullish
Price<200MA
RSI>50
Target 1 will be to R130.00. It's quite optimistic, but you saw how quickly the stock fell in a...
MTH held long term support off the R90.00 level and is now starting show signs of a trend change back to the upside after a wedge breakout above R95.00
Risk reward 1:2
On the 19th of November 2022 I cautioned that Motus' share price will not go up forever, link below.
I highlighted that the stock was forming a terminal pattern in an ending diagonal and that a trend reversal was imminent.
More often than not, the final wave in an ending diagonal makes a new high relative to the third wave and on some occasions even overshoots the...
From the last update on 23 February, we saw Motus form a Reverse Cup.
The price broke below the brim level and the indicators were all negative.
21>7>200 - Bearish
RSI<50
The price hit the target of R105.32
The trends are all down and bearish, and there is no incentive to buy the low on my charts. I don't believe in BTD (Buy the Dip). I believe in Buy high...
Reverse Cup and Handle formed on Motus.
It also formed a bit of a GAP which is not conducive for trading as we can expect the gap to close.
21>7>200 - Bearish
RSI<50
Target R105.32
ABOUT
Motus Holdings Limited (founded in 1948 as Imperial Holdings Limited and then changed the name to Motus Holdings in 2018) is a diversified automotive group based in South...
After successfully closing gap at R122.20, a short trade has triggered.
Oscillators are overbought.
Looking for a pullback towards R117.80 initially, then the 200dma at R110.
One thing is constant about markets, whether indices or single stocks, and that is bull trends will be followed by bear trends or periods of consolidation.
Motus has had a sterling bull run since bottoming in April 2020 at an all time low of R23,00 and recently hit an all time high of R136,00.
Applying the Elliott Wave Principle reveals that this bull trend has...
