The share broke out of the bearish flag, however, there are buyers of MTN around the R53.60-R53 level holding off the selling pressure. The sellers seem to be quite stronger than the buyers as the share has been making lower highs and lower lows (more visible on the daily chart). Should the sellers push the price to around the R51.80 level where most stops could be sitting. Most of the bulls could feel some pain and their exit could further put pressure on the share.
Weekly plan: villagetrader.co.za/2020/10/19/week-19-23-october-analysis/
Weekly plan: villagetrader.co.za/2020/10/19/week-19-23-october-analysis/
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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.