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
Naspers is trading on support at 3570 and testing the breakout level. If it holds, a new all time high could become a target - 4500.
We'll get into what happened to Naspers in a bit, or just scroll down... But I need to mention something, that not many people know. About two years ago, I stopped trading Naspers. It was so rigged and manipulated between many factors and alogrithms. 1. First with TenCent, then with Prosus. Then with prop funds who just make money with the incremental...
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...
Naspers has been trading in a very sideways fashion over since the beginning of the year with support evident in the 2920-2980 area with resistance at 3400 - 3570 on the upside. Most likely with a nibble at the bottom of the range which looks to be holding for now
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...
We had a confirmation break with Naspers Inv Cup and Handle. The price broke to the downside and now it shows strong falling to come. 7=21 price>200 - Reversal RSI <50 - Bearish Target R2,766.00 This coincides with the fall in JSE and other markets since the SVB collapse. I expect more Blue Chip stocks to tank until the world enters some type of equilibrium...
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.
CHALLENGE TRADE IDEA: MARKET: Naspers (NPN) TAKE PROFIT: R1516.90 REASON: Bearish Symmetrical Triangle and lower highs on RSI What are your thoughts?
Naspers is showing a reversal Symmetrical Triangle It has broken to the downside instead of the continued upside showing a further drop to come. This is bearish with the first target of R1,666.74.
Following Naspers we have seen a bounce yesterday but this should not be seen as a recovery. It could cause some sideways action but there is still some down site to come.
We have been following the markdown of Naspers - see posts below. Yesterday there was a sharp recovery but one should not get caught up and think it is time to go long. Naspers remains week and the current bounce is just a retest of the yearly pivot levels. Naspers remains weaker than the market and there are no indications of a recovery. The bounce may indicate a...
the 200 day moving average/exponential moving average has been a great level of support for naspers over the last 3 years. Will the stock bounce again at this level? If history is anything to go by -Odds favor a bounce, but let's see how this unfolds
As expected Prosus keeps following Naspers down - see posts below. However, Prosus is weaker than Naspers and has already broken the yearly pivot point and the recent redistribution remained below this. Again the high volume selling is seen indicating some urgency to dump the stock. Today we see the breakout of the recent redistribution trading range and this week...
Following the markdown of Naspers - see posts below. After a smaller redistribution range, we are seeing a break out of this smaller range today continuing the push lower. The next important level down is the yearly pivot point at R2800. In the smaller redistribution range, there was a particularly high volume upthrust (ut) indicating the selloff is gaining...
Looking at long opportunities on NPN with the market having corrected to retest the breakout from the previous monthly high. Market is poised to move higher to break previous monthly highs. Prosus NV and Tencent Holdings Ltd. are investing in European online-trading group BUX, giving the internet giants a greater foothold in the fast-growing sector. The Dutch...
Naspers has been under pressure - see posts below - and is still pushing lower. A significant bar lower and failure at the 50sma could indicate another step-down.
Following the distribution of Naspers - see the links to 5 posts below - we have had another test of the highs with rejection on above-average volume and spread. The markdown in the Wyckoff method Phase D labelling is gaining momentum. This is confirming my original evaluation of a distribution.