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.
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.
