$JSEMTN - MTN: Consolidation Triangle Breakdown
See link below for the last coverage of MTN.
The stock has been moving sideways since October 2022 and over this period, I was tentative to the labelling of the consolidation.
Recent price action has given me more perspective and it looks like the larger structure from 21149 is a zigzag with an impulse for wave (A), triangle for wave (B) and the current sell-off looks impulsive for wave (C).
There are no reversal signs yet so I will maintain the bearish stance in the short-term.
The stock has been moving sideways since October 2022 and over this period, I was tentative to the labelling of the consolidation.
Recent price action has given me more perspective and it looks like the larger structure from 21149 is a zigzag with an impulse for wave (A), triangle for wave (B) and the current sell-off looks impulsive for wave (C).
There are no reversal signs yet so I will maintain the bearish stance in the short-term.
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