Falling in the top 5 most sold stocks by foreigners yesterday, MTN is also trading at a resistance zone at or near R110.00. I normally don't like trading these "zones" until I get confirmation but I have jumped in early this time. For this trade, I will use a break-out as my stop loss so a breach of overhead resistance will be my signal to exit the trade. The zone of R101.00/103.00 as support is where I aim to take profit.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.