SUMMARY | Position: LONG
Upside target: R355.00 | Recommended stop-loss: R277.00 | RECOMMENDATION: BUY
Mondi is an international paper and packaging group, with production operations in over 30 countries. The group’s key operations are in central Europe and South Africa. The board has recently decided to divest the group’s Russian assets.
Mondi tends to be resilient to economic cyclicality through its focus on corrugated boxes, which are primarily used in defensive sectors such as food and beverages. The company is viewed as a core portfolio holding.
Technically, a price action that remains in a sideways channel pattern makes the share attractive as an investment opportunity (see the black parallel trendlines on the main chart as well as the insert).
A sideways or horizontal channel pattern is a chart pattern formed from…
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