Wednesday’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.
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.