MTN definitely back on the radar. After a few years of constant bad news, good news lately pushed the share price above its diagonal resistance line, which started in January 2018. Over the shorter term, the 14 day RSI are indicating that $JSEMTN are extremely overbought. Should the share price take a bit of a breather, a close below R92 would put the company back in the same downward trend. A breakthrough these levels could see MTN try and find support at its 200-day (R90.27) and 50-day (R88.95) averages.
It seems while
JMIA
(MTN holds 29.7% of the company) is running 10% plus per day on average, support should remain favorable for MTN as well. The share price is also getting mighty close to a Golden Cross.
On the upside, next target on the company is R110, which places MTN on a forward PE (31 Dec 2020) of 14.5 times and a forward dividend yield of 5.52% (all according to Thomson Reuters).
It seems while
JMIA
(MTN holds 29.7% of the company) is running 10% plus per day on average, support should remain favorable for MTN as well. The share price is also getting mighty close to a Golden Cross. On the upside, next target on the company is R110, which places MTN on a forward PE (31 Dec 2020) of 14.5 times and a forward dividend yield of 5.52% (all according to Thomson Reuters).
Đóng lệnh: đạt mục tiêu:
At R110