A price action above 32600 supports a bullish trend direction.
Increase long exposure for a break above 36600.
The target price is set at 40800 (its 100% Fibonacci retracement).
The stop-loss price is set at 33400 9its 50% retracement and also its 200-week simple moving average.
Keep in eye out for the MACD bullish crossover that might support the bullish flag pattern.
A price action above 1403 supports a bullish trend direction.
The 200-day simple moving average might act as major support.
Increase long exposure for a break above 1450.
The target price is set at 1501 (just above its 23.6% Fibonacci retracement level).
The stop-loss price is set at 1366 (its 200-day simple moving average).
Remains a risky trade.
Mondi, originating from South Africa, has evolved into a global powerhouse within the paper and packaging industry, with operations spanning 30 countries and employing around 26,000 individuals across approximately 100 sites. Its business encompasses the entire spectrum of packaging, managing forests, producing wood pulp, paper, and plastic films for a variety of...
Mondi's status as a leading international paper and packaging company underscores its pivotal role in the global supply chain, offering a comprehensive range of products that cater to the ever-evolving needs of diverse markets. With operations spanning across 30 countries and a workforce of 26,000, the company's expansive footprint and operational diversity are...
See link below for previous update.
After a 19 month sideways consolidation, which I had labelled as a wave 4 triangle, the bulls came out of nowhere and took price beyond the 33900 zone, which was key resistance, to around 37000 cps.
This swift move from October invalidated the entire five wave impulse outlook from the all time high at 43005.
The technical...
A price action below 33000 supports a bearish trend direction. This level also overlaps with its 200-week simple moving average.
Confirmation when the price action slips further below this support level.
Expect some further downside for a price action below 32600.
The target price is set at 30800 (its 200-day simple moving average).
The stop-loss price is set at...
Mondi has been on a solid trend up but has reached a major resistance zone and may be due for a pull back to the rising 50 ema .
Bearish MACD crossover & RSI divergence
SL & TP on the chart
Mondi has had a stellar run, price is now at level where the Russian war panic set in, this is also a confluence of resistance, the horizontal line meets the resistance of the rising wedge as well as the 100% retracement zone of the Russian panic. With RSI overbought & in week 8 of a weekly cycle, odds are we are topping. Week 9 is a favourite high for previous...
A price action above 29600 supports a bullish trend direction.
Increase long exposure for a break above 31300.
The target price is set at 32500.
The stop-loss price is set at 29400 (its 38.2% retracement).
Broke above its 200-day simple moving average, as well as testing its 200-week simple moving average.
Rebounded from the lower range of the inclining channel...
Mondi (MNP) is a massive international paper and packaging company that started in South Africa, but now has interests in 30 countries and employs 26000 people at about 100 sites. It has businesses in the full spectrum of packaging, and it is extremely professionally managed. It owns and runs forests, produces wood pulp, paper, and plastic films for the production...
MNP is within timing for a weekly low, looking at the weekly chart, it does not present with ideal oversold conditions.
Price going below 20 March low lets us know that the weekly low price is not yet in, next point is for price to go above the blue resistance & close above the 10 day moving average on daily basis to know we are beginning a new daily cycle. The...
W Formation & Ascending Triangle formed on Mondi as I stated before...
The price has continued to move up on a strong trajectory trend line.
It looks like momentum will continue up and we'll get a ver nice buy signal once it breaks above the neckline.
7>21>200
RSI>50
Target remains at R364.88
W Formation & Ascending Triangle has formed on the daily time frame.
There is an impenetrable resistance right now at R318.00.
Once we break above it, it could be a fantastic trade for upside.
Until then, we'll add it to our watching and waiting list.
7>21>200
RSI>50
Target R364.88
MNP - Double Bottom? - I discussed this name earlier in the week and I think it's worth keeping an eye on for a medium term setup.
Today the group reported results. Currently (intraday) the share is down by 2.3%
W Formation formed on Mondi.
We then had a comfortable retracement back to the neckline where the price tested and showed strong demand and buying.
Now it's waiting for the JSE ALSI to push up before we have the next upleg.
7>21 - Bullish
Price<200 - Bearish
RSI>50 - Bullish
Target remains at R330.00
W Formation is forming clearly on the daily.
We need the price to close above and for the price to open above the breakout level.
There are mixed signs with indicators (but this is normal during a change in trend)
7>21 - Bullish
Price<200 - Bearish
We need the price to move above 200MA to ensure upside to come.
RSI>50 - Bullish
R330.00
SMC:
Below the W...
MNP is moving into a half cycle correction, the backtest of the 20 March low left behind a flat trendline depicted by the blue line.
The pink trendline that is acting as resistance is the line that confirms a new weekly cycle, ideally we want current cycle to go below 20 March then turn upwards. The low of 26 September 2022 must hold so that the yearly cycle...
