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.
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 ??
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.
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???