MCG trade ideas
Descending Triangle on MultichoiceJSE:MCG has formed a descending triangle candle pattern. The candles are wedging into the corner of the triangle and will be breaking out soon. If it breaks out the bottom, this will confirm the signal for a short position.
Multichoice, it's your choice.I'm probably not gonna trade this but worth a charting idea.
Green buy box and the red short term sell area if it holds here or does something "wierd" XD. Let's see.
$JSEMCG Multichoice. Wait for the flag breakMultichoice looks like it getting ready to break this bear flag. Wait for the break. Neutral util then.
$JSEMCG DAILYMultichoice Horizontal Resistance and Support lines on the DAILY. Seems the share is struggling to break through the current RESISTANCE around R122.50 In the last three sessions it has broken this level but ended below it.
$JSEMCG Uptrend to be challenged......A break in the uptrend at 12700 could give a short trigger for targets 12000 & 11500. Wait for the break
MultichoiceMCG has broken out the bottom of its daily range, and the target is now the bottom of its previous daily range around R120.50
Multichoice broken through supportJSE:MCG has broken through a support level and a fractal that it has been struggling with for a while. We could see a downward move from here.
MultiChoice-Subscribing to a shortThe trading range here is clear as day as multiChoice becomes range-bound and pretty much stuck between two levels. I personally cannot see what drivers there are that could possibly push this stock higher. Looking at the Stochastic RSI, it indicates that the current rally is a weak one so I'll be looking to short this bounce. The Rules are pretty simple when trading a "range". Sell the top and buy the bottom. Your stop-loss is a breach of the range. So that's what I'll be looking to do.
Multichoice possible bounce off resistanceJSE:MCG is currently struggling with quite a strong resistance ceiling. We could possibly see a small downward mve if it doesn't break through
$JSEMCG Multichoice +41% since listingStrong showing by this Naspers spin off. Up against some resistance at the moment. Trading in a defined channel.
MCG ready to move either wayMCG ready to move either way, likely to be triggered by upcoming result.
Multi-Choice GroupAs I'm waiting for for the incline support on the daily chart to break to trigger my short entry, I can't help but notice a bullish ascending triangle. If the R130 resistance area breaks, R150 can't be ruled out!!
$JSE-MCGJSE:MCG
Not sure why anyone would go long MCG but chart points to more upside if flat top triangle is broken.
This is hourly chart.
Multi-choice groupClosely watching the R124-R126 area for a ‘Short’...
From there I’m expecting the price to hit bottom of channel at R120, a break of which could take us below R116
