$JSEMKR - Montauk Renewables: Consolidation Or Turnaround?
Montauk had a good run since listing on the JSE in January 2021.
Since hitting an all time high at 36200, the share has lost almost 53% and could present good buying opportunity at current levels.
The technical structure is still unclear though there are early indications that the selling pressure is waning.
The MACD is moving strongly upwards towards the zero line and the share price action is forming a contracting triangle.
There is no clear signal yet but this is one to keep an eye on.
Since hitting an all time high at 36200, the share has lost almost 53% and could present good buying opportunity at current levels.
The technical structure is still unclear though there are early indications that the selling pressure is waning.
The MACD is moving strongly upwards towards the zero line and the share price action is forming a contracting triangle.
There is no clear signal yet but this is one to keep an eye on.
