Trade Mondi Plc with Unum Capital.
To get started, email lester@unum.co.za
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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