Update - Mondi Limited (MND)
We have reached our first target price on Mondi Ltd (MND) and celebrating yet another profitable trade we received the unfortunate news that the JSE Market Regulation Division is reviewing trades in Mondi Ltd (MND) shares in the closing auction from Monday, 30 April 2018 as there appears to have been an error trade which needs to be cancelled as the error trade may have affected the uncrossing price.
On top of this news breaking today we have Mondi Limited (MND) also going Ex-Dividend today with R 16.67 also adding to the move lower.
Outlook:
I am still positive on the long trade if the Rand (ZAR) continues to depreciate against the Dollar (USD) and the 50-day simple moving average supports the move higher.
Take note that Mondi has signed an agreement to acquire 100% stake in an Egyptian Industrial bags producer which might see the share price move lower in the short term when the transaction closes during the first half of 2018.
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