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Timonrosso
Jan 25, 2024 10:06 AM

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

MTN GROUP LTDJSE

Description

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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