Real-Time: 09h51
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Update as of 10h25
Has advanced from 7400c to 7834c.
Reading published in real-time last week Thursday at 16h44
Previous Post: https://www.unum.capital/post/mtn-group-here-s-what-the-data-says-thursday-18-july-2024
• REAL-TIME - 16h44
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Hi Lester,
I hope you are well.
Do you have any analysis on MTN?
Hi ___ - I trust you're well.
This R80 level has been tested since March, which has held however, such persistent tests make a share vulnerable to the level being breached, especially when there is poor candle structure (such as today). The share also remains below its declining 21-week EMA, which could act as a headwind in the short term. The R78 to R80 level appears to be getting weak and if we break below, the momentum could accelerate to the downside.
When will I get bullish? When it stops going down and when it it starts to trade with strong price action above R83, and even more so above R88.
For now, the buy/long risk appears elevated (avoid).
Lester Davids
Analyst: Unum Capital
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