Trade Mondi Plc with Unum Capital.
To get started, email lester@unum.co.za
The previous buy/long target was exceeded, with the share have retreated over the ultra short term overbought levels (see previous model reading on this page). Now in a consolidation phase over the medium (2 to 4 weeks) and long term (5 to 8 weeks).
Previous Post: Trading Mondi: Using Price Action Data To Manage The Risk
MNP exceeded our target to trade as high as 30927c on Friday 14 February. The price action data, which helps to manage risk, read as follows at the end of the same day: "Aggressive buying, do not chase' i.e. do not buy as there is a risk of a pullback. The share has since declined from 30900c to 28200c. Below is the time-stamped readings as received by our traders. Well done to those who took profits and subsequently managed the risk.
This opportunity was identified manually, as well as via the price action model (scroll down for the time-stamped readings)
Edited: Friday 14 February. Currently running +15%
Strong/improving candle structure.
Trading at a 13-week high.
Consider banking partial profits (full target is 29700c. Now 28758c)
As always, traders could consider the following if/when the prices approaches the target: bank/take profit, partially scale out, adjust the stop-loss to protect profits.
Price Action Model Buy Reading: Previous Day's Closing Comment (Time-Stamped, EOD 12-Nov)
Previous Post: Trade Alert: Mondi Plc
Wednesday 13 November 2024 (Time: 11h53)
Share Code: MNP
Below is the TEXT as per the accompanying image:
HIGH RISK BUY IDEA therefore small-than-average position sizes may apply. The share has been sold off aggressively and is in a high bearish momentum regime while approaching oversold. I do not think that THIS is the exact low (i.e. I am expecting lower levels) however, this may be a RANGE to starting building a buy/long position with the expectation that a base starts to form over the near term followed by a potential bullish reversal. Buy at current levels or lower (traders could consider starting with a 1/3 of the position). As always, traders could consider the following if/when the prices approaches the target: bank/take profit, partially scale out, adjust the stop-loss to protect profits. Time stop: 09 May 2025.
Trading Levels
Suggested Entry: 26768c or better/lower (this was the price at the time of writing)
Target: 29700c
Stop-loss: 25400
MNP's Model Reading as of 11h46
Lester Davids
Analyst: Unum Capital
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