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Online Share Trading

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MTN Crystal Ball Stuff

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Theater_Cat
Super Contributor
My Crystal ball says now is a good time to short MTN @ R98.
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13 REPLIES 13
moomoo
Contributor
Why would it be a good time to short?
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Not applicable
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Shard
Super Contributor
Now is a bad time to short anything, unless you like to gamble.
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Not applicable
Why? I think we can go up to 108 tomorrow..before coming down more next week!
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manicks
Regular Contributor
I agree with snap1, mtn could easily rally to 108 tomorrow and then drop back to the 90 level.
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KJR
Frequent Contributor
Short Term TA seems to indicate resistance at 103-104. If it fails then possibly back to support levels of around 90.
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Not applicable
can we see it retreating back to the 90s soon??whats the highest this share is gona go...damn,shudnt have shorted..
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Not applicable
Next resistance 108, if it breaks 108, it can go up to 113/118, then it's up to the 120's. You need to have an exit strategy/Stop Loss. Put in your Stop Loss, if it reaches it and thereafter turns around, tough luck. You have to have your own set of rules, and you need to stick to them, and Stop Loss is a veryt important one.
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Not applicable
ye u ryt,set a stoploss at 110...what happens,happens...
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Theater_Cat
Super Contributor
For those that were short like me, we had an "ugly" and "irrational" 7% rally yesterday - just goes to show how dangerous the volatility is. I'm still bearish on this one. Nigerian Naira currency still weak (25% of earnings from Nig). But then again the market has its own mind.
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louisg
Super Contributor
Weak against the US dollar or SA rand?
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Theater_Cat
Super Contributor
Against the 1 USD=127 NGN
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Not applicable
The graph is still looking positive for me..broke out 1 resistance, should test the next resistance tomorrow or Monday
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