MTN - "Mayday Mayday"Something brewing on this stock...13 sessions straight down on this market darling . I'm sure it will be made known to the market soon 🧐
JSE:MTN
LL6A trade ideas
MTN, not looking goodJSE:MTN weekly close will be interesting. The stock has been on a downtrend for a while now. It opened the week, weak, and a close below R130/share can see it test R122, or worse, R108. Tread carefully.
MTN at an area of valueJSE:MTN is back at an area of value. The stock attempted to rally following the proposed JSE:TKG takeover, both stocks enjoyed a mini-rally. The rally ran out of steam last week, and now JSE:MTN is back at the support level. A catalyst is needed here to push the stock up, otherwise a potential breakdown may play out. No position.
MTN pullback after box break upMTN could offer a good long if today ends green back above the R145 level
MTN - Big DAY!Now that's the candle i want for my birthday 🤪
Massive day yesterday for MTN off the back of earnings, 200 day likely next target
-- MANAGE YOUR RISK - -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
If you would like me to have a look at any chart, direct message and i will post my thoughts, Happy Trading!
MTN Breakthrough and RetestLiking MTN here for a long, broke through the resistance and came back to retest.
Hopefully market turmoil doesn't get in the way.
What do you think about this setup?
MTN LongThe share has just broken above the 50-day moving average and this opens it to a move towards R156.92 first and then the 200-day moving average level of R165.18.
MTNMTN Group (MTN) – I discussed on the share on 18 March at 19714c, highlighting the potential for a sideways consolidation. I also recently flagged a long trade from 15932c (entry) to 16950c (target). We have since seen a sharp decline to R140, coinciding with the general market weakness. How I’m seeing it now: (1) price extended to the downside vs it’s quarterly pivot. This range of extension often sees a reversion to the mean (see my April Shoprite short idea at R245 as an example). (2) the share is trading at 2.5 to 3x it’s mean of it’s 200-day linear regression channel. I’m looking for the share to start building a near-term around currently levels. Note: this may not be the exact short term bottom however on a medium term basis, the share is starting to trade in ‘near oversold’ territory.
MTNMTN Group – How I’m Seeing It:
I discussed on the share on 18 March at 19714c, highlighting the potential for a sideways consolidation. I also recently flagged a long trade from 15932c (entry) to 16950c (target). We have since seen a sharp decline to R140, coinciding with the general market weakness. How I’m seeing it now: (1) price extended to the downside vs it’s quarterly pivot. This range of extension often sees a reversion to the mean (see my April Shoprite short idea at R245 as an example). (2) the share is trading at 2.5 to 3x it’s mean of it’s 200-day linear regression channel. I’m looking for the share to start building a near-term around currently levels or slightly lower. Note: this may not be the exact short term bottom however on a medium term basis, the share is starting to trade in ‘near oversold’ territory.
MTN - Next level to watchMTN is in a steady downtrend currently on the daily from its swing high of R207.66...
The next area of interest that i will be watching closely is R136-137.50 where a breakout gap exists.
Price action will be key there to see if any kind of pullback/reversion in this down leg could possibly unfold.
-- MANAGE YOUR RISK - -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
MTNMTN making a series of low-highs, and developing a bearish descending triangle chart pattern in the process.
If confirmed this may take price to around R110, albeit with some support levels to overcome along the way.
*That down trendline line (currently around 170-175) has to be broken for the uptrend to remain intact and resume.
@VillageTRaderZA - Not saying it's topped but it looks toppishThere's a worrisome bearish divergence on the weekly chart and a potential head and shoulders pattern on the daily chart with MTN. The neckline hovering over the 200 day EMA. If that fails to hold it would confirm the H&S pattern for a short with a target looming around the R120.
MTNMTN dipping below incline support yesterday. Price now at the previous breakout level, which is also the same level as the 'buy the dip' 100dma.
Should this level fail, next support is around the 200dma, which is the 150ish level.
*Just observing for now.
@VillageTraderZA Off we go on $MTNTensions between Russia and Ukraine have escalated to military war. Commodity prices rallied as the tension heightened. Brent crude made all high hitting $102.09. MTN's largest market is Nigeria which also happens to be a large supply of oil and gas. Largest in our continent & ranks 11th in the world on oil production. As NIgeria benefits from high commodity prices amid the war, so does MTN, through it’s Nigerian exposure.
Because MTN is an indirect play in the war story, as it’s neither a supplier nor consumer of oil. It’s a much better risk reward opportunity. As it stands to have much less volatility compared to the more direct plays like commodity stocks such as miners & petroleum stocks.
MTN - Short - Momentum StrategyThe three momentum indicators are all showing signs of a downward move on JSE:MTN . Entering a short position.
@VIllageTraderZA Ascending triangle forming.An Ascending triangle forming. As the gap closes. This pattern may take about 3 or so weeks to develop. Requires some patience
MTN - Loss of rising channel supportMTN has broken below support level of the rising channel it's been trading in since Nov 21. It is now trading below the 50 DMA as well.
Looking for short targets of 15400 and 13800.
@VillageTraderZA - MTN near term forecastHere's how forecast the $MTN price action to play out over the next few months.
I expect the stock to react to the R200 resistance, but make a higher lows and form an ascending triangle pattern.
Ultimately I expect the stock to break right through R200
@VillageTraderZA -MTN on the goResources have been building a rally, oil continuing its run, benefiting Sasol and MTN. Its been a generally good week for resources.
@VIllageTraderZA Buyers defend the 50 day EMABuyers continue to defend the 50 day EMA. Looks like sellers are running out of stock as demand builds up. All the stock needs now is a catalyst
MTN not looking so AyobaAfter "topping out" MTN has now breached it's 50 day Moving average at around 159.00 and looks to making an attempt to re-test the bottom of the rising trend line. However... all momentum indicators are looking weak and if that "support is broken, I feel that 147.00 may be on the cards
