Head and Shoulders formed on MTN a month ago.
We did this prediction analysis showing the market entering into a bear market.
Also, the price broke below the neckline showing downside to come.
Price<200 21>7 - Bearish
Target is still on board to R90.29
SIDE NOTE and TIP:
Banks, Insurance and Telecomms are normally the ones to crash first before the rest of...
MTN broke TL support lines - first one around 127 and the second slightly lower at around 124. Currently looks like it wants to target horizontal support at around 110 - at which point I would be a buyer. Alternatively, I would go go long on a break of 130 to the upside.
JSE:MTN at an area of value. Besides the potential support level, the stock has been trading "bearishly". Not expecting the support to hold, and that recent rally seems to have been a bearish flag. Technically, I wouldn't be surprised if JSE:MTN breaks below this level. But the market is full of surprises. No position.
That was a disappointing breakout failure from JSE:MTN . Most of the MTN African subsidiaries reported decent results, and the Group came out with decent numbers. The tape is just weak.
Head and Shoulders formed on MTN yet again.
Price<200 21>7 - Bearish
RSI<50 bearish
Target R90.29
SMC (Smart Money Concepts)
Bearish Fair Value Gap formed hence the big candle down.
Now due to the 1st and 3rd candle not overlapping, means we can expect the price to move up close the gap before moving down again
This gives a buy signal on the short term side...
If you were fortunate enough to catch the rally, now would be the time to sell (if you didn't get out at the top). Today's price action suggests that MTN is breaking below the all important 200 day Moving average. Should the share price end the day below that, any follow through from there could likely see the stock drift lower all the way back towards major...
MTN is currently finding itself testing double TL support. Share sold off quite heavily yesterday and seems like it might be overdone. Should support fail here - around 124 - we could see another down leg to 110. Stop loss on a close below 109.90
Box Formation formed on MTN and the Prev. trend up
We need the price to break either ABOVE or BELOW the formation before I make any decisions.
The funny thing about MTN is how consistent the sideways moves have been for decades.
It has a personality of its own and is only something you pick up after being in the markets for a few decades.
Anyway, I like to...
JSE:MTN price has broken out of a bullish pennant pattern that formed over the last month or so. It seems to have retraced a bit since, so we will have to wait and see if the trade gets triggered.
MTN is looking like its breaking out of its base. After breaking and retesting the 200 day EMA. This MTN chart looks rather bullish. Its looking well poised from to return to the R200 highs.
MTN Cup and Handle formed and the price has broken up and out of the brim level.
We are however seeing mixed signals.
7>21 <200 - Mixed
RSI>50 - Broken buy divergence
Also the price has come down which gives a conservative entry.
Bullish bias
Target R168.75
CONCERNS:
MTN for over a decade and has been on my naughty list. It seldom works with the system and it...
JSE:MTN buyers seem to have ignored the foreign tax issue. JSE:MTN was attempting to trade above the 150MA prior the SENS, the stock has managed to come back above the level, and past want we considered to be a resistance level.
MTN is looking like a stock that has completed its basing pattern and ready to blast off and run. However waiting would be important for a real breakout.
MTN Group (MTN) | Strong upside follow-through from prior bull-bear pivot at 12189c to test (flagged 19-December) to test a high of 13742 on Friday. SENS after market close with relating to Ghana tax issue could be the reason it will have to pull back from resistance. My price action data states ‘approaching overbought’.
