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MTN - Ascending Triangle

Por JonathanOtero7f

Atualizado

Close above R60 triggers gap close at R62 and further gap at R76

Trade ativo

Long trade has been triggered. Long from R62. First target R68 and 2nd target is the close of the gap at R76

Trade ativo

Great retest of the break out level yesterday at R60 with decreasing volume. This morning we had a good trading statement out from MTN and we could see further upside from here. Big short interest in this stock as well.

Trade ativo

After a great trading statement last week, MTN released a 2nd tradings statement stating that they will be cutting their dividend for the year. This was not received well on Friday and stock closed below R60. A close below previous swing lows of R56 will put this trade out.

Trade ativo

MTN idea is starting to lose momentum. After releasing earnings it has struggled to get going and it can't seem to stay above R60. A close below R56 would mean this trade needs to be closed.

Trade ativo

First target was reached on Friday at R68 and now our full target is in plat at R76. We can now start trailing our stop on Friday's low at R65.40.

JonathanOtero7f

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