$JSEMTM - Momentum Met Hldgs: A Change of Trend On The Horizon?
Since peaking at an all time high of 3475 zac in 2015, MTM stock has been in a bear market that made a low in October 2020 at 1282 zac for a 63% decline in value.
The bear market has characterized by a classic sequence of lower highs (LH) and lower lows (LL).
The 1386 low in mid 2022 gives hope that this trend has been bucked and a trend change is on the horizon.
A break above 2270 zac will provide an extra confirmation that the trend is changing as the LHs will be broken.
It is critical for 1282 zac to remain intact.
The bear market has characterized by a classic sequence of lower highs (LH) and lower lows (LL).
The 1386 low in mid 2022 gives hope that this trend has been bucked and a trend change is on the horizon.
A break above 2270 zac will provide an extra confirmation that the trend is changing as the LHs will be broken.
It is critical for 1282 zac to remain intact.
