*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.
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.