The recent decline in MTN has caught many investors by surprise, but from my analysis, this looks more like a healthy correction after a powerful rally than the start of a long-term bearish trend.
After a strong impulsive move, it is normal for quality stocks to retrace, allowing the market to reset before attempting another advance.
What am I watching?
✅ The ₦600–₦650 support zone is my key area of interest.
✅ I want to see selling pressure begin to fade as price approaches this level.
✅ Strong weekly bullish candles with increasing volume would indicate institutional buying is returning.
✅ A higher low followed by a break above the recent swing high would provide confirmation that the correction is complete.
If these conditions are met, I believe MTN could begin Wave (5), with the potential to challenge the ₦1,150–₦1,200 region over the longer term.
After a strong impulsive move, it is normal for quality stocks to retrace, allowing the market to reset before attempting another advance.
What am I watching?
✅ The ₦600–₦650 support zone is my key area of interest.
✅ I want to see selling pressure begin to fade as price approaches this level.
✅ Strong weekly bullish candles with increasing volume would indicate institutional buying is returning.
✅ A higher low followed by a break above the recent swing high would provide confirmation that the correction is complete.
If these conditions are met, I believe MTN could begin Wave (5), with the potential to challenge the ₦1,150–₦1,200 region over the longer term.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.