Prosus - Short Term - We look to Buy at 68.11 (stop at 65.01) We look to buy dips. Trading within the Channel formation. Previous support located at 68.00. Previous resistance located at 80.00. The bias is still for higher levels and we look for any dips to be limited. Our profit targets will be 77.39 and 80.50 Resistance: 80.00 / 90.00 / 100.00 Support:...
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.
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...
As previously discussed - see posts below - Prosus is still following Naspers lower. A failure at the 200sma is indicating significant weakness.
As previously indicated Prosus - see links below - is following Naspers down and gaining momentum in Phase D of a Wyckoff analysis.
Prosus still following Naspers down with some significant volume and bar on Friday.
Prosus is being distributed on the back of Naspers - see posts below. Time to watch for the volatility.
As with Naspers Prosus has made me wait after observing some weakness in the stock. However, change of character on a significant reversal bar after a failed test is likely confirming that the up sloping trading range is a distribution range and we could see the start of the markdown process starting.
Fundamental Analysis 1. Industry: Ecommerce, Social and Internet Platforms ++ 2. Price: Relatively Cheap 3. Analyst Consensus Target: 145 (Tipranks) 4. Risk-Reward Ratio: 1:6 5. 5Y EPS Growth: 20-40% (Simply Wall St) Technical Analysis 1. Volume is growing 2. Support of the MA 100 line (1h) 3. Boilinger Percentage: 35% (high short-term potential) 4. Morningstar...
Just entered a short position in EURONEXT:PRX . Entry @ 87,75 Stop @ 91,20 (-3,9%) Target @ 75,20 (+14,3%) There's long term divergence MACD (sell signal given) and RSI (sell signal given). DMI confirms with a DI - > DI + and ADX rising; confirming downtrend. At the moment there's some gap filing going on, it's just waiting for the red rising support line to be...
With Prosus shareholding in Naspers it is following the trend down (See post below) and we are now looking for a markdown to occur. We are looking for a markdown to below R1200.
See Chart. Prosus = Tencent. Good technical set up to breakout.
Watch for break of 6.3 Volume has dropped off Higher low Wait for a strong close Price above all EMAs (21/65/200)
On watchlist Downtrend since August 2019 Base slowly beginning to form Price tracking above 20MA Look to enter on a close above 5.5c
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)