*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.
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.