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Mondi

Mondi Still Has More Downside To ComeMondi is a global leader in packaging and paper, delighting its customers and consumers with innovative and sustainable packaging and paper solutions. Mondi is fully integrated across the packaging and paper value chain - from managing forests and producing pulp, paper and plastic films, to developing and manufacturing effective industrial and consumer packaging solutions. Sustainability is embedded in everything Mondi does. In 2017, Mondi had revenues of EUR7.10 billion and underlying EBITDA of EUR1.44 billion. Mondi has a dual listed company structure, with a primary listing on the JSE Ltd. for Mondi Ltd. under the ticker MND, and a premium listing on the London Stock Exchange for Mondi plc, under the ticker MNDI. Mondi is a FTSE 100 constituent, and has been included in the FTSE4Good Index Series since 2008 and the FTSE/JSE Responsible Investment Index Series since 2007. Technicals The structure indicated on the chart above has broken to the downside. I expect further downside with possible reversal points at the 38.2%, 50% and 61.8% Fib retracement levels. I will be looking at lower time frames for a confirmation structure in order to enter the short. Happy trading! Linton
JSE:MNPShort
by Linton_White