A price action above 6700 supports a bullish trend direction.
Further bullish confirmation for a break above 7200.
The target price is set at 8000.
The stop-loss price is set at 5900.
Remains every risky trade.
Montauk Renewables - Bio-Gas Supplier as we all know.
This Chart Depicts the Highly Cyclical nature of these Commodities. It's one to Trade, not a long Term Investment.
The recent sell-off could soon offer an Entry Opportunity.
But we need to wait for a decent reversal of the current Down Trend.
My last Trade yielded +60%. However only had R5000 in. But I...
See link below for previous analysis.
Montauk recently released it FY'23 annual results and they were not pretty.
The renewable-energy company posted fiscal 2023 earnings of $14.9 million, or 11 cents a share, down from $35.2 million, or 25 cents a share, in the same quarter last year.
Analysts polled by FactSet were looking for earnings of $20 million, or 15...
After moving upwards from around 130, MKR is now trading in a range between 168.50 and 190.00.
This looks like a bullish continuation pattern and should we see a breakout to the upside, potential targets are 220 and 230. Failure would be a close below 164.00.
Montauk Renewables is Printing an Inverse Head & Shoulder Pattern as seen on this Graph.
The Chart shows the Trend Pattern.
I trust this Trend Pattern plays out for those Invested.
Any thoughts or comments are welcome.
Regards Graham.
A price action above 13300 supports a bullish trend direction.
Crossing above 14900 will act as further confirmation of the bullish trend direction.
The target price is set at 16200.
The stop-loss price is set at 12700.
It will appear that a rounding bottom pattern is starting to unfold.
Remains a risky trade.
MKR has broken two areas of strong support. First it broke its uptrend - blue TL and then broke horizontal support at 141.40. Currently trading in a small range in 'no-mans land' looking for direction. Either we could see a move lower to around 93-95 or hopefully it reclaims support at 141.40.
Montauk had a good run since listing on the JSE in January 2021.
Since hitting an all time high at 36200, the share has lost almost 53% and could present good buying opportunity at current levels.
The technical structure is still unclear though there are early indications that the selling pressure is waning.
The MACD is moving strongly upwards towards the zero...
Notes:
* Recent IPO with steady up trend
* Not the best earnings in the recent quarters
* Basing for the past ~3 months
* While basing it bounced off of its IPO highs around the 13.8 area
* Recently breaking and holding above a pivot area between 16.65 and 16.9
* Daily and weekly volume seems to be indicating buyers coming in and the UD ratio seems to be...
There was lots of eyes on $MNTK the last few weeks and I was not interested (was not setup).
Its moving to my secondary watchlist for this week as the setup is progressing nicely so far.
Potential #PowerPlay
Watch for consolidation mid-rang to hold & breakout (Orange bars).
Montauk Renewables, Inc. {MNTK} is holding above its recent breakout trigger for the past several weeks.
I've identified 2 overhead targets for this trade idea. You could consider 1/2 & 1/2 to exit upon a test of.
OR you could sell 1/3, 1/3 and then leave the final 1/3 on if this continues to run.
That's ultimately up to you! Let me know if you find success...
$MNTK Montauk Renewables has seen some major upside recently. Yes we are late to the party but the lack of volume is off-putting. Today 9/15 there was a spike in volume on the final 30minutes. It was selling pressure after reaching a intraday high of 12.21
The daily chart shows clear defined levels we can play if the trend continues.
We are watching a break...
IPO price is 8,50$ opening price is 13$
Small free float big vollatility ,lets go to be millioners all together!
Bio energy profitable sector with perspectives and the company looking for investors..
I bought today at 10.44$
I posted then to buy with me but the margin is ultra big there for unlti 50$ you can buy free!!
