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Multichoice

Multi-Choice after its breakway gap could fly from here to R135Couple of things with Multi-choice. It moved on low liquidity to the downside before making a break-away gap and back into the uptrend. Now with gaps they close over 70% of the time and so, we're getting that retest back to close the gap, retest the uptrend and possibly heading up from there. We got the Cup and Handle, which broke up and make a fakeout. But I believe this is temporary, as there are a couple of retests to take place including 200MA. First target could head to R135.75 Fundamentals The rally in MultiChoice Group Limited (JSE:MCG) in 2024 has been influenced by several factors, including a significant acquisition move by CANAL + SA, which expressed a non-binding intention to acquire a 68.24% stake in MultiChoice Group for ZAR 30.4 billion.
JSE:MCGLong
by Timonrosso
Multichoice showing upside before downside thanks to GAPS - SMCSell Side Liquidity Order block - Bullish This is seen by a very strong support that's formed since October 2022. We also have had a FVG (Fair Value Gap) Candle. This is where the previous candle and the third candle hasn't filled the orders. That's why we expect the price to go up, fill the gap and then possibly turn down from here. Target R140.00 If the price breaks below Sell Side Liquidity- this analysis will be null and void and all signs will point to shorts.
JSE:MCGLong
by Timonrosso
W Formation on Multi-Choice looking good to R147.60W Formation from the last update with Multi Choice is looking good and on track. It broke above the neckline, and it's been swimming on up on a good inclination (45 degrees). Indicators are also looking positive. 7>21>200 Bullish RSI >50 >70 - Bullish Target R147.60 ABOUT THE COMPANY MultiChoice was founded in 1995 as a subsidiary of the South African media group Naspers. The company operates DStv, a digital satellite television service that offers a wide range of entertainment channels and packages. MultiChoice has a presence in over 50 countries in Africa, including Nigeria, Kenya, Ghana, and Tanzania. The company has over 19 million subscribers across the continent, making it the largest pay-TV provider in Africa. MultiChoice's services include DStv, GOtv, and Showmax, a streaming service that offers a range of local and international content. MultiChoice has a market capitalization of over R64 billion as of February 2023.
JSE:MCGLong
by Timonrosso
Multichoice retracement is in orderThe company announced a partnership with Netflix and Amazon Video. Seems like another HBO content deal. They also announced the introduction of a 'new' platform. The support service is terrible and the various streaming platforms seem broken at best. Recently the company has experienced continued declines in the number of DStv Premium and Compact Plus subscribers in South Africa. I guess this is there response, lets see how streamers repond to 'new' products in the coming months. A retracement is in order, at the very least.
JSE:MCGShort
by UnknownUnicorn3417222
H&S Target reached and failed to confirm a break of support.JSE:MCG formed a Head & Shoulders pattern between March and December 2019, which played out nicely and reached it's target which perfectly coincided with the lowest low of 9031 from 6 March 2019. With yesterday's movement, it broke slightly lower, but retraced and failed to confirm with the close of the candle. Failing to confirm below this low could mean a possible upward move. I will wait for confirmation before entering a long position.
JSE:MCGLong
by RossLarter