$JSEMCG - MultiChoice: Bulls Take Initiative, New Deal Tailwinds
The last time i covered MCG was on the 25th of January 2023 and price had been trading in a contracting triangle.
I said the best choice was to sit on your hands.
With a little hindsight, perhaps the best choice would have been using a pending buy order as the forecast did call for a breakout of the triangle for the fifth and final wave.
Price literally started trading up after the analysis and broke-out the trading upper trendline a few sessions later.
Yesterday, Multichoice updated the market that in has entered into an agreement with Comcast’s NBCUniversal and Sky to create the leading streaming service in Africa.
This looks like a good deal and it is worth taking a deep dive into the numbers and how this will translate in revenues and cash flows.
The market reacted positively to the news.
The updated wave count shows the triangle terminated at 10954 and price action looks to be unfolding into an impulse pattern for wave 5.
Buy the dip of wave ((iv)) for wave ((v)) but be cautious as this is the fifth wave of a higher degree fifth wave.
I said the best choice was to sit on your hands.
With a little hindsight, perhaps the best choice would have been using a pending buy order as the forecast did call for a breakout of the triangle for the fifth and final wave.
Price literally started trading up after the analysis and broke-out the trading upper trendline a few sessions later.
Yesterday, Multichoice updated the market that in has entered into an agreement with Comcast’s NBCUniversal and Sky to create the leading streaming service in Africa.
This looks like a good deal and it is worth taking a deep dive into the numbers and how this will translate in revenues and cash flows.
The market reacted positively to the news.
The updated wave count shows the triangle terminated at 10954 and price action looks to be unfolding into an impulse pattern for wave 5.
Buy the dip of wave ((iv)) for wave ((v)) but be cautious as this is the fifth wave of a higher degree fifth wave.
