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Online Share Trading

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MTN-1 share trades

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platsak
Super Contributor
See theres a lot of 1 share trades. Useally a bit higher value than the last transaction. Almost looks like someone is trying to prop up the value. Whats the point. Depending n today close it looks like MTN is headed for next support at R90. Any opinions will be apreciated.
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19 REPLIES 19
Not applicable
Wouldnt be so sure...Mtn is a very steady share...It almost always finds support around that 100 mark..but we are allowed to hope:)
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Not applicable
104.90...Hmmmmmmm,where to from here??
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Not applicable
Is it headed down to 90?? any1 please
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Theater_Cat
Super Contributor
First tell us what your technical analysis tells you! Read us the indicators.
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Not applicable
Seems like support of 105 was breached with a close below on friday,struggling to break the resistance of 105 this morning,next support level 89.20..however Ive noticed previously that this share finds some sort of "support" around the 100 mark??...
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Not applicable
A bounce off 90 will be a double bottom, anything under 90 is a bargain = excellent buying opportunity!!!
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Not applicable
well theatre cat lets have it..
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Theater_Cat
Super Contributor
We need more.... What does 26 week EMA on weekly chart tell you? What does MACD histogram tell you? Stochastics? What about daily chart MACD, EMA's et al. What are the correct support/resistence levels per daily and weekly charts?
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Not applicable
common mate,a simple yes or no wud do it
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Theater_Cat
Super Contributor
Point we are trying to make is that it is better to teach a man to fish than to give him a fish. Yes, the long term trend is still down. The intermediate trend may whipsaw up and down.
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Not applicable
I am a bit of a newbee myself but I was looking at the MTN volumes over christmas. From about 22 Dec to 2 Jan the volumes understandably were lower than normal and in this time the share moved from about 96 to 104. When volumes returned, in two days, the share jumped to 117 and over the next week back to where we are now. I dont really have a technical analysis answer here as to this volume action but I would assume the share is going to trade back to the levels in the upper 90's before volumes became thin. Any opinions on this?
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Not applicable
Looking a bit more into this volume thing. Have checked in excel that the price volume correllation since begginning Oct is -0.6. Which seems pretty high. This says to me that the big volumes are happenning when share prices are dropping and vice versa. Does this mean institutional (smart money) selling?
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nala
Super Contributor
someomemtold me that there is a bee deal coming upfor MTN -can someone verify this
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SimonPB
Valued Contributor
yes I think there is another BBBEE coming soon(ish)
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SimonPB
Valued Contributor
an the un winding of the newshelf deal.
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cfm
Super Contributor
This sounds like the making of a new indicator. Price/Volume correlation factor. Probably simular to OBV.
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Not applicable
From Moneyweb 15/12/08 "MTN will pay the PIC 400 million rand in cash and issue 213.9 million shares, or about 11.5 percent of its capital, to settle any outstanding Newshelf debts. In exchange it will receive the 13.1 percent Newshelf stake, which it would cancel. MTN will later offer shares, including some of those held by PIC, to black members of the public, staff and previous Newshelf investors. It said the exact size of the deal would depend on how many previous Newshelf investors wanted to participate. The transaction needs approval from shareholders. MTN would also need to help raise finance for the new transaction, but said it expected that to cost less than 0.75 percent of its market value." Is this good or bad news for the share?
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Not applicable
Hey! Maybe I can patent that and sell it to all the software trading companies out there! At least then I can say I made money with the markets! The JonnnoVoluMeter! (JVM)...perfect.
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platsak
Super Contributor
Testing the R100 mark today. See theres lots of 1share trades again. Simon please shed some light on this.
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