Naspers finally breaks the psychological R 3000 resistance…time
The share price is expected to build a solid base slightly above this level (R 3000.00) to confirm a bullish trend ahead…
The bullish view is furthermore re-affirmed by the recent consolidation slightly below the R 3000.00 handle after testing lows at R 2400.00 in mid October 2018.... sellers shaking the tree a bit. Medium target in sight R 3600.00 (20.00%) upside.. Longer term target could possibly push beyond the R 4000.00 level.. will be a volatile ride ahead.. Near term implied volatility trading at 42.50v.
Comment:
Support holds R 3000.00 going to be a long area of consolidation before making a clear break towards R 3200.00
I remain positive and look for a retest... Volume remains thin and I see no concerns that this resistance will break.