Friday brought a significant bar, some volume and a break of the 50SMA which all indicates some momentum to the downside. See posts below following Naspers lower.
Following the weakness in Naspers - see posts below - since December we are now being marked down in Phase D as defined by the Wyckoff distribution range. We have seen a couple of tests of the highs that have failed and we are likely seeing a transfer of stock from strong to weak hands. We are now anticipating a break of the upsloping distribution range....
The poster child of the South African stock market over the last several years has undoubtedly been Naspers, with its largest holding in Tencent. I’ve tried to come to grips with the company and its individual parts which will take a bit more time, however, several things become apparent in the information at hand. Naspers has been able to grow its revenue at a...
I started to look at the signs of weakness in Naspers in December - see post below - but after a good rally in January I thought that I may have read things incorrectly. However, now after an upthrust action and failed test of the highs on lower volume, we have seen a significant reversal bar. The size of the daily bar is larger than any bar for some time. This...
Stocks seems to be in a trading range. We could see it retrace to bottom of range.
Naspers is looking like it is completing a distribution trading range in spite of a strong market. After a push higher in November increased selling volume provided a major sign of weakness (SOW). After a poor attempt to rise it is now had a high volume significant selling bar. This could indicate a large concern is completing its sale of the stock into the...
buy/sell when price breaches shaded area. Lets wait and see
JSE:NPN has been trending upward since mid-March and with today's opening, it finally broke below the trendline that has formed. Although unconfirmed as of yet, this could mean a move to the downside. I'll be keeping an eye on what happens here next week for a possible short position.
We are developing a scary head and shoulders top formation in both Naspers and Prosus. Should we convincingly break below the necklines of the respective charts at approximately R2376 and R1050 respectively, we have downside targets some 18.6% and 13.6% away from current levels on Naspers and Prosus. (Price targets if H&S formation plays out, NPN : R2014, PRX: R927)
JSE:NPN has broken out of an ascending triangle and looks good for a small upward move.
JSE:NPN has formed a bearish harami and has broken through an ascending support level. I will enter this short if it breaches the fractal that formed on the candle of the 13th of June.
JSE:NPN has triggered a long position on our trend-following momentum strategy. Be cautious with this one, as it has been going up for quite a while and might be due for a retracement soon.
JSE:NPN has broken through a descending resistance level. I will wait for confirmation on todays price action before entering a long.
JSE:NPN has shown a dark cloud cover, which often signifies a trend reversal, so I will enter short. However, it has been in a very strong uptrend for a while, so I will trade with caution in case it continues upward.
JSE:NPN has shown a bullish harami which is a strong reversal signal. This pattern formed at a previous resistance level which strengthens the signal. We can expect a downward move as the stochastic is also turning. If all goes well, w can expect it to go all the way down to the support at around 280000 and we will exit the trad if it breaks through the...
I am looking for buy opportunities on this pair as the 5 impulsive waves down have completes, I do not trade wave B so I wait for a n entry from a buy limit order@277742 OR a buy stop @295501 TO tp@326535. This is confirmed by the trendline broken out and also a possible King's Crown
Currently we have a failed breakout in play of the October balance below 2920. We could revisit the 2 High Volume areas of the balance at 2723 and 2573. This Is my primary scenario A. Alternatively, scenario B, NPN stabilizes above 2920 level for a shot higher back to 3000 and above. Levels in RED are intra-day levels to watch.
Established in South Africa in 1915, Naspers Limited is a media, internet and entertainment powerhouse with a footprint in more than 130 countries, and is one of the largest technology investors in the world today. The group’s principal operations are in e-commerce, video entertainment, print and online media. Naspers shares have continuously been one of the JSE...