MTN Nigeria Stock Analysis
On Monday, December 9th, 2024, MTN Nigeria experienced a significant turning point in its price action. From its all-time high of ₦320 on January 9th, 2024, the stock declined steadily until it reached a low of ₦170 on December 9th, 2024. This level, which initially acted as a major support, later became a key resistance zone.
The eventual breakout above the ₦170 resistance on 9th December 2024 marked the beginning of a strong upward rally, propelling the stock to a new peak of ₦495, just shy of the psychological ₦500 level.
Technical Outlook:
Based on current chart analysis, there is a possibility of the stock revisiting the ₦400 zone.
This level aligns with a confluence point on the resistance trendline that has been in play since May 20th, 2019, making it a critical area to watch for potential price reactions.
Follow me here on TradingView for more educational forecasts
Please, like, share, and comment your thoughts
On Monday, December 9th, 2024, MTN Nigeria experienced a significant turning point in its price action. From its all-time high of ₦320 on January 9th, 2024, the stock declined steadily until it reached a low of ₦170 on December 9th, 2024. This level, which initially acted as a major support, later became a key resistance zone.
The eventual breakout above the ₦170 resistance on 9th December 2024 marked the beginning of a strong upward rally, propelling the stock to a new peak of ₦495, just shy of the psychological ₦500 level.
Technical Outlook:
Based on current chart analysis, there is a possibility of the stock revisiting the ₦400 zone.
This level aligns with a confluence point on the resistance trendline that has been in play since May 20th, 2019, making it a critical area to watch for potential price reactions.
Follow me here on TradingView for more educational forecasts
Please, like, share, and comment your thoughts
Publicações relacionadas
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.
Publicações relacionadas
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.