Timonrosso

Which way will MTN break out of the Diamond?

JSE:MTN   MTN GROUP LTD
Diamond Formation has formed since September 2022.

This is a weekly chart because MTN is by far the most difficult market to analyse.

It is famous for moving sideways for extended periods of time. Then it eventually breaks out and moves in a trend for a short but powerful period.

This is only a market for trend traders who wait for the big move.
Or for range bounded traders who buy and sell within the range.

My ego is not high enough to choose a direction, so when it breaks out - we can choose to go long or short.
7=21
Price>200

Target up R203.90
Target down R60.65

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Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
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