Get started

MTN

MTN Group Limited RSI indicators are showing exhaustion. The stock looks overbought and is facing strong resistance at R130. As a trader, I wouldn't want to buy the top right now. I'm looking for a pullback to (+- R115) before I enter a position again. There is no denying that MTN has been a top stock to own in 2021, and this uptrend should continue, but in the short term I'm expecting a 10% pullback and then a retest to current levels of R130. If it can break out of R130 then R150 is on the cards. Pullback to R115 -( Ideal entry ) Retest of R130+ then some consolidation, then a breakout to test R150. 30% upside reward from R115 levels. Not financial advice.
JSE:MTN
by TalkingCents
Cup & Handle on MTNA Cup and Handle pattern has formed on JSE:MTN . The Cup with Handle is a bullish continuation pattern and as its name implies, there are two parts to the pattern: the cup and the handle. The cup forms after an advance and looks like a bowl or rounding bottom. As the cup is completed, a trading range develops on the right-hand side and the handle is formed. A subsequent breakout from the handle's trading range signals a continuation of the prior advance. I will look to enter long if it breaks above the high of 11 Nov with a optimistic target at the resistance around the 8800 level.
JSE:MTNLong
by RossLarter
1