Actionable Areas: Mondi Plc

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Since last Monday, the shares have rallied off deeply oversold levels, having printed a 'piercing candle' to reclaim the prior session (Friday 04/04) lows. The price remains below it's declining 200-day moving average, meaning that in the short term rallies are likely to be sold. Provisional sell re-entry = ~28985c to ~29680c which is between the prior breakdown level and prior swing highs. Provisional buy re-entry = ~25720c to ~26096c which is the unfilled gap and prior reclaim range.

For the past week, from Monday's open to Friday's close, the share rallied by 8.9%, which was in line with the price action model reading as of the close on Friday 04 April: "Has been sold aggressively. Look for a continued dip before a minor rebound".

Lester Davids

Analyst: Unum Capital