Mondi has retraced to find support around it's 0.618% Fibonacci retracement level, with a close at 36890c (a two-day pullback from a high of 38500c around the 200-day SMA. Here's the criteria: We'd like to see the share consolidate at the current level or just below followed by a bullish reversal to emerge the 0.618% Fib zone. Stop: 36330c. Target: 38800c.
This is a pre-market idea, thus I do not know where the share will trade at the open however I will monitor for an entry depending on the intraday price action/structure.
On our client platform, the most recent long idea was 35999c on 11 October, from which we saw a consolidation followed by a rebound into 38900c.
For more real-time insights and ideas, get in touch today.
This is a pre-market idea, thus I do not know where the share will trade at the open however I will monitor for an entry depending on the intraday price action/structure.
On our client platform, the most recent long idea was 35999c on 11 October, from which we saw a consolidation followed by a rebound into 38900c.
For more real-time insights and ideas, get in touch today.
