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Online Share Trading

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MTN

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Russ
Super Contributor
is hovering around the support line again. Time to get in again?
11 REPLIES 11
Prestonmyhusban
Regular Contributor
Wait for R119- R121.50.
Russ
Super Contributor
Every time it gets to support it first moves up to about 13200 and then comes down again to make a double bottom before moving up much higher. It has already made the double bottom so you will be lucky to get a third touch.It might happen but I think it is safer to get in now.
Russ
Super Contributor
There's also a buy divergence on the daily and weekly rsi. Looks like a good set-up to me.
Preston
Super Contributor
Two factors at play with MTN , namely currency (Zuma) and oil price.I will wait to add more. I do however agree with your technical analysis.(omo). If Zuma strikes, then this share is going down to R107-R109, gross of dividend.
Preston
Super Contributor
@Russ, maybe add 50% now and wait to add the other 50% or alternatively 3 purchase of 33.33% each.
Russ
Super Contributor
Ja, it's heading your way!
Russ
Super Contributor
Any thoughts on vod? Also on support, buy divergence on daily rsi, oversold on weekly chart. Only problem is it hasn't turned up yet.
suki
Super Contributor
will rebounce around R150
Prestonmyhusban
Regular Contributor
@Russ, I did have a look at VOD, i do not like the chart. Personally further downside risk is quiet possible (omo)
Russ
Super Contributor
Well, Pmh, it's in your range. Let's hope the bottom is in.
Preston
Super Contributor
@Russ, I think it has bottom out barring Zuma antics, I honestly believe we going to see a short rally from oil that is going to help MTN , otherwise, it is R109.