Mondi (MNP) Hitting Resistance, Possible Short Entry

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MONDI PLC (JSE:MNP)

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JSE:MNP MONDI PLC

Mondi has a short-term resistance made from recent highs, price can continue to push higher & above the trendline but is expected to turn downwards. An opening of a short opportunity at rejection of resistance or at the forming of a swing high. Target is to close the short after price breaks the lower trendline. Expected time to reach the bottom is 15 to 30 November for a gain of 10%.

Komen:

Though Mondi has taken time to arrive at price objective, we need to watch carefully where price action wants to go. Will do deeper analysis and post a new road map.

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