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Online Share Trading

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Anyone long on MTN??

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manicks
Regular Contributor
Roffey quite negative about this share. I am long entered 123.00 should i sell now or hold? Target 130.00.
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26 REPLIES 26
suki
Super Contributor
always do the opposite of what he says. you were right to enter.
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manicks
Regular Contributor
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manicks
Regular Contributor
At what level wud u suggest i put a stoploss if share pulls back?
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SimonPB
Valued Contributor
I think your rage too small .. buying at 123 for 130 exit is 5.6% .. add in slippage, spread and costs and the risks on the trade seem to large for me ..
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Not applicable
I took a look at the chart of this share on Sunday, and I also do not feel good about it. The technical indicators are getting positive. MTN came back from below R118 on 24 February, the prices last seem last year August. There is a support uptrend line around R108 but that increases as days move on. That is if there is no sharp drop in the next couple of weeks you will be safe when the market price falls on that line. This is a technical view of it.
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gareth01
Regular Contributor
I went long at R119....doing well. My 2cents worth is that its has come off those highs of R131..where support was around R117. I agree with Simon, long at 123 with costs, your upside % gain is small. I will be getting out around R125 level.
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manicks
Regular Contributor
Thanks Simon- I entered abt 2weeks ago, was initially projectin to exit at 133 but lately reached only 128 or i revised my target lower. Do you suggest i exit and re-enter at lower level?
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SimonPB
Valued Contributor
119-125 same thing ??
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gareth01
Regular Contributor
CFD Simon - in fact sold out at R123.80 (24% gain). Rather bank the profits.
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manicks
Regular Contributor
Wat was ur exposure G?
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Rams
Super Contributor
Did not see Roffey but Interesting Elliot Wave chart.This is my late night analysis and not meant for human consumption. Look at daily chart from 03/01/2011 - complex corrective pattern, most likely a Double Zigzag corrective pattern.All this means is that there could be a triple zigzag correction(more downside) or resumption of the uptrend with new high. More probable that the correction is over(triple zigzags rare) and uptrend to follow because of time and momentum. For the first time since correction started, both weekly and daily stochastics are in sync with bullish reversal on daily. Short term Targets will be 133(62% retrace) and Med term target will be 146 (78% retrace).
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manicks
Regular Contributor
Hi ram, what charting program do you use? Im am using SB charts- is there an option for elliot waves there?
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manicks
Regular Contributor
Hi ram, thanks for the analysis - what charting program do you use? Im am using SB charts- is there an option for elliot waves there?
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manicks
Regular Contributor
Hi ram, thanks for the analysis - what charting program do you use? Im am using SB charts- is there an option for elliot waves there?
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Rams
Super Contributor
SB charts.No option for ELLIOT Waves on SB charts-have to manually work it out
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manicks
Regular Contributor
Mtn off the runaway... :)
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Not applicable
Rams-I also had a look at this tonight.I think u are correct that we have completed a double zig zag but i am thinking that we are going to have a triple zig zag.if this plays out it will be a perfect place to go long before wave 5 up. My reason why i think a triple zig zag is that the alsi is in what i think a fourth wave correction and doing a double zig zag WXY.The alsi started the first leg up of Y today with another leg down,another leg up,and another leg down then up in wave 5. The SP500,DOW and NASDAC are all in what seems like 4 th wave triangles before going up in wave 5.If my analyses is correct we should have a down day tomorrow.I would think that mtm could go down to R115 -R113 aprox if the tripple zig zag plays out.Should the markets rally again tomorrow u can through these counts out the window because then we already started wave 5 up.
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Rams
Super Contributor
Will be interesting to see a triple ZIGZAG unfolding....despite recent price action as posted by me above ,it can still happen.MTN has underperformed both the TELE index and the ALSH - 62% retrace will be my key technical level. I am not in this share ( trading long ) because of the complex charting and poor relative strength but have been following it(long term investment).
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Rams
Super Contributor
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