Falling Wedge and Cup and Handle has formed on Naspers. The price broke above the Wedge also a downtrend. It seems like it's going to follow Ten Cent and world markets. Nature: High probability Price>20 and 200 Target R4436.84
It's been a trying time for Naspers Media company. Since January 2023, up until October 2023. The price has moved in a sideways range and has failed to break either way. That was un 18 October 2023, where the price pierced through a solid neckline of an M Formation, Since then, it's entered into bear market territory along with the JSE ALSI 40. The signs...
Falling Wedge Formation is evident on the daily chart. The price is still consolidating around the apex. We need the price to break up and out of it to confirm upside to come. 7=21 Price >200 RSI>50 Target R4,000 ABOUT THE COMPANY 2023 Naspers was founded in 1915 as a newspaper publisher in South Africa. The company is headquartered in Cape Town, South...
Break in Uptrend structure confirmed and we are no longer in an uptrend. We've been in a sideways range and now entering a bear market as of today. We now have a largeish Inv Cup and Handle with a few bearish signals. 21>7 - bearish price>200 - Bullish RSI <50 - Bearish lower highs Target R2,766.00 WARNING Even though we expect the price to drop, it's only...
Naspers has been moving super in our favour. I'll be adjusting the stop loss to R3,202,18 as the trade has been on for quite a while and we need to secure profits with medium term trades. still bullish though.
Between SPX pushing lower and China pjshing higher, im not sure if this one might be a bit of a push and pull. But there are sooooo many gaps down, its like 70% chance of some to be closed. Might need some patience. Break through both uptrend will signal a hard sell.
Cup and Handle has formed on Naspers and has even gapped up showing strong momentum. 7 >21 >200 Moving averages all turned up. Target 1 is R3,626.50 CONCERN is that Gaps close 70% of the time and Naspers is a wild one which acts erratically. Number of reasons which I don't think they'll be happy if I tell you but I'm an independent. 1. Companies love to...
Stocks seems to be in a trading range. We could see it retrace to bottom of range.
buy/sell when price breaches shaded area. Lets wait and see
JSE:NPN Made nice rising wedge, with negative divergences. Hit big resistance. Made nice big engulfing bar. HKEX:700 results look very bad. Time to sell?
JSE:NPN Making rising wedge, if it breaks down it will test low from October 2018.
JSE:NPN Testing trend line that started in October 2018. Break of the trend line will only bring weakness into stock.
JSE:NPN Making bullish flag after trend line has been tested. Break above 3060 will open 3160 as first target and probably 3260 as second target (around down slopping trend line)
JSE:NPN Tried to break and close above 3000 resistance but this morning pulling back. Big negative divs on indicators. Probably will go the test bottom of the range
JSE:NPN Making big engulfing bearish bar at very strong resistance. Clear negative divs in place