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Squeeze

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Frequent Contributor
Hennie, Whats your squeeze indicator showing for MTN? Has been trading in the 116-123 range for most of June. At first glance looked like a descending triangle to me. Also, does anyone have any idea what the deadline is for the talks with Bharti? tx.
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Frequent Contributor
Talks are supposed to be wrapped up end July 09. But a lot of talk in the press re the financial funding and banks running to get a piece of the action
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Not applicable
Daily WoW, Hiso have a look at the fib as well LOW 14 May and high 25 May and the squeeze between the 50 and 61 % retrace. I have no clue to which way ... Daily STO on the up but weekly on the down .... even The fibs from 6 May 08 HIGH and the low 27 OCT 08 ( longer term is between the 51 and 61 % retrace ..... Very nice chart :-)))).... What do you think ??
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Frequent Contributor
Volume has also been dropping off and Twigg's Money Flow also hovering around the neutral range so no indications there. I think there's gonna be a good move, not sure which direction though. I'm thinking below 115 is short and above 124 is long.
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Not applicable
Thinking that same thing ... wait and see what she does
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Super Contributor
Agree wait for the breakout.A descending triangle is normally a bearish pattern so downside breakout should be more likely.
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Frequent Contributor
Just saw a TA thingy done by IdealCFD's on MTN. They expecting the breakout from the descending triangle to be upward with a target in the 135 region.
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Super Contributor
Time will tell but histogram is neg looks like a short below 116. But who knows it will be obvious when it happens.
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Contributor
Russ, a break out from a triangle is normally in the direction of the preceding trend - the question is what was the trend before the triangle?? Is the 25/05 to 5/06 downside move part of the traingle or a downward trend?? If it is a trend then we are looking at a movement to the downside - if part of the triangle then might see a move on the upside - any thoughts on this???
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Contributor
According to volumes the "downward trend" I mentioned in my previous post is running out of steam anyway - I think everyone is just waiting for the outcome of the talks..
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Frequent Contributor
Uncle Rofey made a good deduction yesterday on Summit where he did state this is a traders buy and not a long term investment ur view
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