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Online Share Trading

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MTN is playing the dog today considering the market

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gleamin
Contributor
Whats up with MTN, why so sticky around the 10150 mark?
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42 REPLIES 42
Theater_Cat
Super Contributor
Volume is petering out; trading below 50d MA and 40 MA, RSI declining on mild rally; 200d MA trending down et al. Should presume its downtrend...
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manicks
Regular Contributor
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Shard
Super Contributor
I just did a quick correlation calc on closing prices for this share and the ALSI top 40 (used % gain/loss for the day). 2 month correlation = 0.61, 1 month correlation = 0.56, 2 week correlation = 0.21. I know this is a very loose test, but the basic conclusion is that this one is following the market less and less. Dont look to the general market as an indicator for this.
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My thinking is that mtn held up strong at 108 to 115 when everyone was shorting, same thing could happen now if it moves above 106?
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manicks
Regular Contributor
Thanks for the correlation calc shard, mtn very unpredicable
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gleamin
Contributor
MTN back down to the R101.50 support.........unpredictable doesn't do this one justice.
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Must also admit, my TA said it was trending up (short term) but that dramatic sharp fall came very close to my stop loss.
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gleamin
Contributor
Any ideas as to why MTN is not enjoying the rally like the other bluechips? The banks are even outperforming, for gods sake!!!!
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gleamin
Contributor
Any ideas as to why MTN is not enjoying the rally like the other bluechips? The banks are even outperforming, for gods sake!!!!
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mtn broke down though a very important bull trend on 19/07/2008 that started 5/10/2002, 40 day MA moved above the 21 day MA, it has no momentum, and the RSI is at 35, more pain coming
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This panic selling is quite ridiculous.
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Volumes definitely not supporting a positive breakout - OBV still pointing downwards. Momentum - What Charting software do you use? I ask because my RSI calculations (amibroker using investordata) put MTN at around 50. This makes a difference in the overbought / oversold indications
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hi MOMENTUM-at level could MTN go to before picking up again.Will i be able to buy at much lower levels...
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unfortunately can TA not predict the future, it can only show you in advance where the market should go, is like driving behind a car and he is signaling he'll turn right and does turn right
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