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MTN: Profit taking or Deal Doubt?

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DEP
Super Contributor
MTN at R153.00: Profit taking or Deal Doubts?
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17 REPLIES 17
jamoo
Frequent Contributor
a bit of both, but probably more of the former. deal looks solid, the russians or chinese may get into the race soon. if profit taking continues, then you will see massive drop tomorrow. the question is; is it time to go long or short?
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DEP
Super Contributor
Interesting times for MTN. Thing of going long...
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Shaun_Siddall
Super Contributor
MTN is one of the most succesful proudly south african companies, go short deal wont happen.
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DEP
Super Contributor
Why do you thing deal wont happen? SA Government go a say?
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Shaun_Siddall
Super Contributor
51% you giving up everthing you have built? The volumes have slowed down stop losses will be tight so the fall will be very quick as people take gains and losses are triggered omo?
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DEP
Super Contributor
Makes sense, I thinks alot of stop losses are startibg to trigger!
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Copper
Regular Contributor
It was inevitable wasnt it... It shot through its upper channel line and the following day had a 5% exhaustion gap with an even intraday chart. Day thereafter the volume and price moment just confirmed it..
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DEP
Super Contributor
where to from here? Back to R150 or R160?
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Copper
Regular Contributor
150?? Why 150?? I dont see a new base forming at 150..There isnt anything stopping it from plummeting below 150.. but then again.. i could be talking rubbish :)
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DEP
Super Contributor
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Copper
Regular Contributor
Possibly 140 or early 140's...where i would re enter...but then again it could skyrocket to 211 as some forumites have been peddling...frankly i'd just stick to my gut and the chart and watch the fun..good luck DEP
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barry_1
Super Contributor
dont take offense,i hope u are talking rubbish in this instance,i'm long on a warrant!!!!!!
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platsak
Super Contributor
I went short. Have a feeling the enthusiasm will wane before the weekend. I think we will see some serious profit taking before the weekend.
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DEP
Super Contributor
I am on the sideline as well and watching... Too risky to enter at these levels.
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Copper
Regular Contributor
Just 1 more thing...if it breaks 140 then your a*se is grass.. But lets hope for Barry sake it hits 211... did i mention..Good luck guys..
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Not applicable
i think the market is just closing the gap that was created when the price leapt to the 160s. So sometimes the explanation is more technical than fundamental, after that the price will go up, but at a more gradual pace, makes sense hey?
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barry_1
Super Contributor
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