Couple of things with Multi-choice.
It moved on low liquidity to the downside before making a break-away gap and back into the uptrend.
Now with gaps they close over 70% of the time and so, we're getting that retest back to close the gap, retest the uptrend and possibly heading up from there.
We got the Cup and Handle, which broke up and make a fakeout. But...
Sell Side Liquidity Order block - Bullish
This is seen by a very strong support that's formed since October 2022.
We also have had a FVG (Fair Value Gap) Candle. This is where the previous candle and the third candle hasn't filled the orders.
That's why we expect the price to go up, fill the gap and then possibly turn down from here.
Target R140.00
If the...
W Formation from the last update with Multi Choice is looking good and on track.
It broke above the neckline, and it's been swimming on up on a good inclination (45 degrees).
Indicators are also looking positive.
7>21>200 Bullish
RSI >50 >70 - Bullish
Target R147.60
ABOUT THE COMPANY
MultiChoice was founded in 1995 as a subsidiary of the South African...
JSE:MCG is showing signs of great upward momentum. The stochastic and MACD indicators turned up last week and the two EMA's crossed in an upward direction yesterday as the final trigger for a long trade. We could see a love up towards the 12500 resistance level, and if it breaks through that level, we could potentially see it going all the way towards the...
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.
