JSE:MCG is showing some good upward momentum at the moment and could do well for a long position. Although the MACD and Stochastic alerted quite a while ago, the EMA's are confirming the upward momentum.
JSE:MCG has been on a great bull run since mid-September but it looks like it might be turning down soon. It is currently consolidating at a previous resistance level. If it breaks lower out of the triangle pattern it is currently in, I will consider short.
The company announced a partnership with Netflix and Amazon Video. Seems like another HBO content deal. They also announced the introduction of a 'new' platform.
The support service is terrible and the various streaming platforms seem broken at best.
Recently the company has experienced continued declines in the number of DStv Premium and Compact Plus...
JSE:MCG formed a Head & Shoulders pattern between March and December 2019, which played out nicely and reached it's target which perfectly coincided with the lowest low of 9031 from 6 March 2019. With yesterday's movement, it broke slightly lower, but retraced and failed to confirm with the close of the candle. Failing to confirm below this low could mean a...
JSE:MCG has formed a descending triangle candle pattern. The candles are wedging into the corner of the triangle and will be breaking out soon. If it breaks out the bottom, this will confirm the signal for a short position.