Naspers - GAP Close - Naspers closes the gap created on the 12th of JAN
- Looking for support here for a reversal else we could head lower to test swing lows
NPN trade ideas
Naspers - Daily Analysis - 13-Jan*The following is an extract from research published to our client group this morning* - Sidebar levels excluded.
The falling wedge technical structure, breakout, subsequent back-test and rally may have been a textbook development while yesterday’s rally was one for the books . Tencent is slightly lower in HK thus a we may see muted action in NPN compared to yesterday however don’t be surprised if the share bucks the trend vs Tencent and trades slightly higher again today. DAILY CHART.
Disclaimer: The above analysis should not be considered as a trading or investment recommendation.
Disclosure: No position held.
In addition to NPN, I also provide short term trading analysis on other large cap JSE stocks including but not limited to FSR, SOL, MTN and AGL. In the offshore space, I focus on, but not limited to, the S&P 500, Nasdaq 100 and EuroStoxx 50 while also tracking USDZAR, EURUSD, DXY, USDJPY and AUDJPY among others in the FX arena.
For more insights and real-time ideas, get in touch today.
Naspers - Daily Analysis - 12-Jan*An extract from this morning's research published to our client platform*. For more insights and real-time ideas, get in touch today.
"The falling wedge technical structure and subsequent back-test may have been a textbook development with the share rebounding strongly during Tuesday’s trading session. China tech strong in the US last night (see side-bar). Expecting further follow-through today with Tencent higher in HK this morning. DAILY CHART."
Disclaimer: The above analysis should not be considered as a trading or investment recommendation.
Disclosure: No position held.
In addition to NPN, I also provide short term trading analysis on other large cap JSE stocks including but not limited to FSR, SOL, MTN and AGL. In the offshore space, I focus on, but not limited to, the S&P 500, Nasdaq 100 and EuroStoxx 50 while also tracking USDZAR, EURUSD, DXY, USDJPY and AUDJPY among others in the FX arena.
Naspers - Daily Analysis - 11-Jan*An extract from this morning's pre-market research published to our client group*
Yesterday’s pullback appear to be a further back-test of the falling wedge formation. This should be considered normal price action. Tencent is higher in HK thus moderate buying can be expected. Any further weakness would bring the 2340-2360 level in play where an opportunistic intraday buy could be executed. Will assess further, in real-time. DAILY CHART.
Disclaimer: The above analysis should not be considered as a trading or investment recommendation.
Disclosure: No position held.
In addition to NPN, I also provide short term trading analysis on other large cap JSE stocks including but not limited to FSR, SOL, MTN and AGL. In the offshore space, I focus on, but not limited to, the S&P 500, Nasdaq 100 and EuroStoxx 50 while also tracking USDZAR, EURUSD, DXY, USDJPY and AUDJPY among others in the FX arena.
For more insights and real-time ideas, get in touch today.
Naspers - Daily Analysis - 06-JanYesterday’s highlighted resistance zone, which was also the prior day bearish fibonacci retracement area held, with sellers acting in accordance with Tencent’s weakness (Wednesday). The intraday selling pressure saw the price testing the bullish 50% fib zone which was followed by a 2000c rebound on an intraday basis, late in the session. Tencent is ‘flattish’ to up hence I am expecting the price to continue trading around the fib zone just below of around R2428-R2459. DAILY CHART.
Naspers - Daily Analysis - 05-JanExtract from this morning's research. Key levels available to clients.
The short term falling wedge structure highlighted at the end of Dec-2021 has continued to the play out with strong gains for the first two days of the year. At current levels, the reward to risk on the buy/long side is less favorable with the share having entered the bearish Fibonacci retracement range as well as the swing highs of 24-26 November and 7, 8 and 13 December. China tech down sharply in the US last night while Tencent is also sharply lower in HK this morning. I’m expecting the share to find resistance here these levels. DAILY CHART.
Disclaimer: The above analysis should not be considered as a trading or investment recommendation.
Disclosure: No position held.
In addition to NPN, I also provide short term trading analysis on other large cap JSE stocks including but not limited to FSR, SOL, MTN and AGL. In the offshore space, I focus on, but not limited to, the S&P 500, Nasdaq 100 and EuroStoxx 50 while also tracking USDZAR, EURUSD, DXY, USDJPY and AUDJPY among others in the FX arena.
For more insights and real-time ideas, get in touch today.
Naspers - Daily Analysis - 04-Jan*An extract from this morning's client research*
TEXT: "Yesterday we saw the price trade strongly, continuing to push out of the larger falling wedge structure highlighted toward the end of last month. The upper end of the key resistance (R2514) was tested and breached on an intraday basis, with a high of R2528 followed by a close of R2511. Tencent’s lower, thus early session weakness wouldn’t be unexpected and could possibly be seen as a back-test of the falling wedge structure. DAILY CHART."
Specific available levels on request.
Disclaimer: The above analysis should not be considered as a trading or investment recommendation.
Disclosure: No position held.
In addition to NPN, I also provide short term trading analysis on other large cap JSE stocks including but not limited to FSR, SOL, MTN and AGL. In the offshore space, I focus on, but not limited to, the S&P 500, Nasdaq 100 and EuroStoxx 50 while also tracking USDZAR, EURUSD, DXY, USDJPY and AUDJPY among others in the FX arena.
For more insights and real-time ideas, get in touch today.
Naspers - Daily Analysis - 03-JanFriday’s trading action saw a rally into the bearish Fibonacci retracement level of R2476/R2491, with the zone acting as firm resistance on an intraday basis. The daily gain also saw the previously highlighted falling wedge (a bullish structure) starting to play out although being in the early stages of development. Tencent lower in HK this morning could see NPN being subdued in early trade, with the downside gap at 2460 possibly in focus. DAILY CHART.
Full analysis (specifically key levels) available on request.
Disclaimer: The above analysis should not be considered as a trading or investment recommendation.
Disclosure: No position held.
In addition to NPN, I also provide short term trading analysis on other large cap JSE stocks including but not limited to FSR, SOL, MTN and AGL. In the offshore space, I focus on, but not limited to, the S&P 500, Nasdaq 100 and EuroStoxx 50 while also tracking USDZAR, EURUSD, DXY, USDJPY and AUDJPY among others in the FX arena.
For more insights and real-time ideas, get in touch today.
Naspers Relative To JSE Top 40: 4 Year Cycle? Observation Only.
This monthly chart highlights NPN vs the JSE Top 40 (although NPN does hold a sizeable weight in the J200).
My question: Is the recent 4-year RELATIVE sideways performance similar to what we saw from 2004-2008?
What's interesting is the 14-month RSI at multi-year lows, with a print of 34 - the same as the 34 print in March 2008 when NPN bottomed relative to the Top 40.
*The JSE removed the equally-weighted Top 40 from this platform which I would have preferred to use as a comparison.
Attached to this post is my previous view on NPN vs the equally Top 40 in May 2021 where I highlighted NPN potentially underperforming the market. At the time the share was R3000. Recent low = R2290.
Naspers - Daily Analysis - 30-DecWednesday’s (full) analysis provided two opportunities to generate cash flow. Firstly, a buy on the morning drop to support, followed by a print into resistance which was followed by a sell-off. The falling wedge structure highlighted yesterday also remains in place, with the price displaying strong action during the session. Pre-market JSE, Tencent in HK is unchanged thus I am expecting subdued trade in NPN, with possibly a consolidation near these 4-day highs. DAILY CHART.
Disclaimer: The above analysis should not be considered as a trading or investment recommendation.
Disclosure: No position held.
In addition to NPN , I also provide short term trading analysis on other large cap JSE stocks including but not limited to FSR , SOL, MTN and AGL . In the offshore space, I focus on, but not limited to, the S&P 500 , Nasdaq 100 and EuroStoxx 50 while also tracking USDZAR , EURUSD , DXY , USDJPY and AUDJPY among others in the FX arena.
For today's complete analysis and key levels, get in touch today.
Naspers - Daily Analysis - 29/12"The share has continued to trade below the downward trend line in place since the 17-Nov peak of R2796. At the start of last week we saw the price rebounding off the 2-Std Deviation Bollinger Band support. Following Thursday’s gap close and test of the declining 20-day moving average, the price has developed two consecutive days of lower highs but with the long lower wicks suggesting potential buying interest. I’m expecting further consolidation with a slightly bearish bias however a break of the downward trend line could signal a change in medium term trend. DAILY CHART."
Disclaimer: The above analysis should not be considered as a trading or investment recommendation.
Disclosure: No position held.
In addition to NPN , I also provide short term trading analysis on other large cap JSE stocks including but not limited to FSR , SOL, MTN and AGL . In the offshore space, I focus on, but not limited to, the S&P 500 , Nasdaq 100 and EuroStoxx 50 while also tracking USDZAR , EURUSD , DXY , USDJPY and AUDJPY among others in the FX arena.
FOR TODAY'S COMPLETE ANALYSIS AND KEY LEVELS, GET IN TOUCH TODAY.
Naspers | Daily Analysis | 20-DecTrader Type: Intraday/Active
Tencent (HK): -1.32% (08:14am SA Time)
Chinese Tech ETFs (US Market). Friday, 17 Dec.
KWEB: -0.20%
CQQQ: -1.35%
Chart Time Frame: 1-Hour
Last: 236470c
How I'm Seeing It: On Friday, the share rebound briefly off our initially support zone of R2411, trading higher by R39 intraday to R2450 before continuing it's decline for the rest of the session. With equities sharply lower in Asia this morning and Tencent continuing to make lower lows and lower highs (-1.05%), we can expect further weakness in NPN. The R2411 support level has been lost, with a close of R2364.70. Next support is around the R2290-2317 range, which is the prior swing lows of August to September. On the upside, R2429-R2445 should be a resistance zone.
Disclaimer: The above analysis should not be considered as a trading or investment recommendation.
Disclosure: No position held.
In addition to NPN, I also provide short term trading analysis on other large cap JSE stocks including but not limited to FSR, SOL, MTN and AGL. In the offshore space, I focus on, but not limited to, the S&P 500, Nasdaq 100 and EuroStoxx 50 while also tracking USDZAR, EURUSD, DXY, USDJPY and AUDJPY among others in the FX arena.
For more insights and real-time ideas, get in touch today.
Naspers | Daily Analysis | 17-DecTrader Type: Intraday/Active
Tencent (HK): -2.87% (08:32am SA Time)
Chinese Tech ETFs (US Market). Wednesday & Thursday, 15 & 16 Dec.
KWEB: -4.41%
CQQQ: -1.62%
Chart Time Frame: 1-Hour
Last: 246999c
Value Traded: R3.2bn
Volume Traded: 1m shares
How I'm Seeing It: The 2478 support level flagged on Wednesday morning held twice in the session, providing a double long opportunity on an intraday basis, both for around R30 each on the long side. With Tencent below lower by a cumulative 3.62% over the two-day period (thus far), it's likely that NPN loses the R2457 support zone, with the possibility of testing R2434 as well as the previous support zone of R2411. On the upside, 2493 to R2505 could act as a resistance zone.
Disclaimer: The above analysis should not be considered as a trading or investment recommendation.
Disclosure: No position held.
In addition to NPN, I also provide short term trading analysis on other large cap JSE stocks including but not limited to FSR, SOL, MTN and AGL. In the offshore space, I focus on, but not limited to, the S&P 500, Nasdaq 100 and EuroStoxx 50 while also tracking USDZAR, EURUSD, DXY, USDJPY and AUDJPY among others in the FX arena.
For more insights and real-time ideas, get in touch today.
Naspers | Daily Analysis | 15-DecTrader Type: Intraday/Active
Tencent (HK): -0.04% (08:21am SA Time)
Chinese Tech ETFs (US Market). Tuesday, 14-Dec.
KWEB: -0.84%
CQQQ: -1.15%
Chart Time Frame: 1-Hour
Last: 250460c
How I'm Seeing It: Yesterday morning the share spent the first 10-min trading slightly below out support range of R2468-R2477 before consolidating in that range for the rest of the hour. Following that we saw a R50 rebound to an intraday high of R2518. With the Tencent unchanged in HK, I'm expecting subdued price action, although the JSE futures close out could have an effect on prices. Levels: We could see R2578-R2488 act as a support area while R2529-2534 is a likely resistance zone.
Naspers | Daily Analysis | 14-DecTrader Type: Intraday/Ultra Short Term
Tencent (HK): -1.11% (07:53am SA Time)
Chinese Tech ETFs (US Market). Monday, 13-Dec.
KWEB: -3.22%
CQQQ: -1.69%
Yesterday's Value and Volume:
Value Traded: +R1.7bn
Volume: 678k shares
Chart Time Frame: 1-Hour
Last: 251367c
How I'm Seeing It: If you followed this note yesterday, there were opportunities to make money in both directions, firstly on the short side when then share hit our resistance area of R2553 and subsequently declined R62 to our support of R2491 in the afternoon. Following this we saw a R22 rebound into the close as the share settled at R2513. Asian equities are negative and Tencent is -1.07% thus risk-off sentiment should likely dominate in early trade. Levels: We could see R2500 being lost as a support area with the downside target range of 2468 to 2477. Resistance: R2528 to R2540.
Disclaimer: The above analysis should not be considered as a trading or investment recommendation.
Disclosure: No position held.
In addition to NPN, I also provide short term trading analysis on other large cap JSE stocks including but not limited to FSR, SOL, MTN and AGL. In the offshore space, I focus on, but not limited to, the S&P 500, Nasdaq 100 and EuroStoxx 50 while also tracking USDZAR, EURUSD, DXY, USDJPY and AUDJPY among others in the FX arena.
For more insights and real-time ideas, get in touch today.
Naspers | Daily Analysis | 13-DecThis analysis forms part of a larger research report.
Trader Type: Intraday/Active
Tencent (HK): +2.50% (07:23am SA Time)
Chinese Tech ETFs (US Market). Thursday, 10-Dec.
KWEB: +1.19%
CQQQ: +0.12%
Yesterday's Value and Volume:
Value Traded: +R1.2bn
Volume: 516k shares
Chart Time Frame: 1-Hour
Last: 251955c
How I'm Seeing It: On Friday, the share hit my provisional support zone of 2466 (actual low of day was slightly lower at 2456) from which we saw a R69 rebound from that level to a high of R2525 (this also being my intraday distribution zone). Did you manage to trade it? With Tencent higher by 2.50% in HK this morning (7.22am SA Time), a rebound looks likely. Provisional Resistance: R2547-2553. Provisional Support: R2491-2500.
Disclaimer: The above analysis should not be considered as a trading or investment recommendation.
Disclosure: No position held.
In addition to NPN, I also provide short term trading analysis on other large cap JSE stocks including but not limited to FSR, SOL, MTN and AGL. In the offshore space, I focus on, but not limited to, the S&P 500, Nasdaq 100 and EuroStoxx 50 while also tracking USDZAR, EURUSD, DXY, USDJPY and AUDJPY among others in the FX arena.
For more insights and real-time ideas, get in touch today.
Naspers | Daily Analysis | 10-DecTrader Type: Intraday/Active
Tencent (HK): -0.47% (05:50am SA Time)
Chinese Tech ETFs (US Market). Thursday, 09-Dec.
KWEB: -1.45%
CQQQ: -0.11%
Yesterday's Value and Volume:
Value Traded: +R1.2bn
Volume: 516k shares
Chart Time Frame: 1-Hour
How I'm Seeing It: Pre-market yesterday, the R2547 level was the bottom of our provisional resistance range. This then turned out to be the morning high from which we saw the share being sold throughout the session with a slump all the way down to R2467 in the afternoon. What you'll notice is that the share closed the 06-Dec gap before rallying to close at R2499. A weaker ZAR may be a catalyst for support however Tencent is currently lower by 0.47% which will weigh on the name, although not by a great deal I suspect. In terms of resistance, R2520-R2526 is provisional distribution zone while the R2473 down to the R2466 level is a possible (provisional) support range.
Disclaimer: The above analysis should not be considered as a trading or investment recommendation.
Disclosure: No position held.
In addition to NPN, I also provide short term trading analysis on other large cap JSE stocks including but not limited to FSR, SOL, MTN and AGL. In the offshore space, I focus on, but not limited to, the S&P 500, Nasdaq 100 and EuroStoxx 50 while also tracking USDZAR, EURUSD, DXY, USDJPY and AUDJPY among others in the FX arena.
For more insights and real-time ideas, get in touch today.
Naspers | Daily Analysis | 09-DecTrader Type: Intraday/Active
Tencent (HK): +1.16% (07:26am SA Time)
Chinese Tech ETFs (US Market). Wednesday, 08-Dec.
KWEB: +0.28%
CQQQ: +1.21%
Yesterday's Value and Volume:
Value Traded: +R1.4bn
Volume: 580k shares
Chart Time Frame: 1-Hour
How I'm Seeing It: On Wednesday, my envisioned resistance zone of R2577 held, with sellers stepping up early in the session to protect level from get-go as the prior session momentum was lost amid a strong ZAR. Attempts to push into resistance we made however buyers failed to maintain their aggression as the share faded into the afternoon, hitting our support range of our R2500/R2520 before closing at R2526. Which levels are important today? With Tencent moderately higher and the ZAR the stronger end of it's recent range, I'm expecting subdued price action in the counter with R2547/R2558 being a congestion area while R2500 down to R2491 is a likely (provisional) support zone.
Disclaimer: The above analysis should not be considered as a trading or investment recommendation.
Disclosure: No position held.
In addition to NPN, I also provide short term trading analysis on other large cap JSE stocks including but not limited to FSR, SOL, MTN and AGL. In the offshore space, I focus on, but not limited to, the S&P 500, Nasdaq 100 and EuroStoxx 50 while also tracking USDZAR, EURUSD, DXY, USDJPY and AUDJPY among others in the FX arena.
For more insights and real-time ideas, get in touch today.
Naspers | Daily Analysis | 08-DecTrader Type: Intraday/Ultra short term
Tencent (HK): +0.65% (06:39am SA Time)
Chinese Tech ETFs (US Market). Tuesday, 07-Dec.
KWEB: +4.37%
CQQQ: +2.24%
Yesterday's Value and Volume:
Value Traded: +R1.82bn
Volume: 713k shares
Chart Time Frame: 1-Hour
How I'm Seeing It: Yesterday we saw both intraday targets being hit before the share faded into the afternoon, giving up some of it's intraday gains. Safe to say the share, along with PRX was used as a funding trade for a midday rotation into resource shares and SA financials/banks although the last 3 hours reflected moderate buying evidenced by the long lower candle wicks. With Tencent higher by only 0.65%, we may not see similar aggressive buying as we did yesterday. As expected, the R2566 zone acted as a resistance level (HOD 2580) which is in line with the hourly 200-SMA. Support levels of R2520 and R2500 will be key while R2560 to R2575 could be a level where sellers could again step up and show their hand. Unlike yesterday, I have less conviction on direction at the open, so it's best to use the aforementioned resistance levels as a guide.
Disclaimer: The above analysis should not be considered as a trading or investment recommendation.
Disclosure: No position held.
In addition to NPN, I also provide short term trading analysis on other large cap JSE stocks including but not limited to FSR, SOL, MTN and AGL. In the offshore space, I focus on, but not limited to, the S&P 500, Nasdaq 100 and EuroStoxx 50 while also tracking USDZAR, EURUSD, DXY, USDJPY and AUDJPY among others in the FX arena.
For more insights and real-time ideas, get in touch today.
