Mondi Plc | Strong Upside Follow Through From Re-Entry Buy Range; Now Attempting To Break Above 50-Week EMA

Research Notes For 07 to 11 July > https://www.unum.capital/post/r0711july

Trade Local & Global Financial Markets with Unum Capital.

To get started, email tradingdesk@unum.co.za

MONDI Plc: THE SHARE REBOUND STRONGLY OFF OUR BUY RE-ENTRY RANGE OF R264-R270 (see yellow circled area). NOW, ANOTHER ATTEMPT TO BREAK THROUGH THE 50-WEEK EMA. The share has unsuccessfully attempted to break above it's 50-week EMA on several occasions. This time could be different, with the price action and candle structure reflecting buyers taking control. Upside target is the 200-week EMA at or around 31500c.

---

Previous Post (13 May): Traded into the buy range (a low of R268 followed by a rebound to R290 as of yesterday's high). The current price action model reading is as follows:

The slide below was featured in the report, 'The Sum of the Charts' (Monday, 28 April), highlighting the Mondi and preparing clients for a potential trading opportunity.

Lester Davids

Senior Investment Analyst: Unum Capital