Trading Mondi Plc
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Please Note: When Published Intraday (JSE Equities), Prices Are Delayed By 15 Minutes.
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This note considers the best course of action for the instrument from current levels i.e. the next best-probability actionable areas for active traders.
Chart + Analysis as of Friday 11 September at 14h42
Mondi Plc (MNP) - The share has developed a 'low volume pullback' which may be the set up for it's next leg higher. Over the past 7 trading sessions, buyers have defended the ~17890c range which is exactly in line with the 21-week EMA and 75-day EMA. What can happen from current levels? A potential flush lower (a false breakdown?) followed by a bullish reversal. The buy re-entry range is slightly slower (to account for a potential false breakdown). There, I'd like to assess the price action/behavior of market participants) to determine if true demand is in place for a buy setup.
Previous Post (01 August): Mondi Plc +30% since alert on 03 July / well done if you took advantage of the opportunity to trade.
Previous Post (17 July): Mondi Plc: Running +8.8% & Generating Cash. An Opportunity to Lock in Further Gains
Previous Post (17 July - Pre-Market):
(JSE Share: Running +5% Since Alert. Short Term Traders Consider Locking In Gains. Medium Term Traders Consider...
Mondi Plc (MNP) - if you are a short term trader, you could use the rebound to lock in gains however, considering the massive underperformance over several months and years, medium term traders could hold positions for a potentially larger move. Consider using a trailing stop-loss in that case.
Previous Post (Saturday 04 July, for Monday 07 July): Early Signs of Buying Interest: This JSE Industrial Share Has Been A Serial Underperformer However See Weekly & Monthly Charts
Mondi Plc - Weekly Chart
Mondi Plc - Monthly Chart
Lester Davids
Senior Investment Analyst: Unum Capital
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