Timonrosso

MTN Black Diamond to take the price to R60.65?

Short
JSE:MTN   MTN GROUP LTD
Diamond Formation formed over ther last two years with MTN.

Now initially, you wait for a breakout before you trade a broadening pattern like the diamond.

And then, we saw it break below - showing the momentum and supply was higher to the downside.

I sent this analysis out and called it a short investment. What that means is that this type of trade is a LONG hold and it will take time to hit the target. Luckily with CFDs you'll earn interest on the trade.

And as price is staying below the 200MA, the target is still on to R60.65

Thoughts?

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Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
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