Short term view - MONDI PLC : The 50% retracement is causing the bounce.
The previous high has been passed, the bullish trend is confirmed. The next target is at 2,278.00 p. The invalidation level is below 1,970.00 p.Arguments :
- The resistance is close.
- The 50% retracement is causing the bounce.
Mondi is organized into the following businesses: Packaging Paper, which manufactures and sells virgin and recycled containerboard and sack and speciality kraft paper; Fibre Packaging, which manufactures and sells corrugated packaging products, industrial bags and extrusion coatings; Consumer Packaging, which develops, manufactures and sells consumer goods packaging solutions, technical films, components for personal care products and release liners; Uncoated Fine Paper, which manufactures and sells papers for use in offices and printing houses; and South African Division, which manages plantation forests and manufactures and sells pulp, virgin containerboard and uncoated fine paper.
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