Naspers has been moving super in our favour. I'll be adjusting the stop loss to R3,202,18 as the trade has been on for quite a while and we need to secure profits with medium term trades. still bullish though.
JSE:NPN touched R3000/share, R3008.89 to be exact. We love that, we have a long position. JSE:PRX is also positive but we prefer JSE:NPN
JSE:NPN has pushed above to what I considered a resistance level. Hopefully an upward move will be sustained. JSE:PRX has a similar chart.
Between SPX pushing lower and China pjshing higher, im not sure if this one might be a bit of a push and pull. But there are sooooo many gaps down, its like 70% chance of some to be closed. Might need some patience. Break through both uptrend will signal a hard sell.
Cup and Handle also has formed on Prosus with the Moving averages looking strong with 7>21>200 Target R1,445.20. There is a strong correlation with Naspers which is showing almost identical charts. The RSI has also broken above the Negative divergence and is in the upward momentum territory >50. The only concern as I often mention are the gaps in the charts...
Cup and Handle has formed on Naspers and has even gapped up showing strong momentum. 7 >21 >200 Moving averages all turned up. Target 1 is R3,626.50 CONCERN is that Gaps close 70% of the time and Naspers is a wild one which acts erratically. Number of reasons which I don't think they'll be happy if I tell you but I'm an independent. 1. Companies love to...
JSE:PRX closed its gap & we anticipated that JSE:NPN might close its gap as well. The good news is that the gap has been closed, and another gap has been opened. Should we blame HKEX:700 or Comrade Xi?
CHALLENGE TRADE IDEA: MARKET: Naspers (NPN) TAKE PROFIT: R1516.90 REASON: Bearish Symmetrical Triangle and lower highs on RSI What are your thoughts?
JSE:PRX has closed its June gap, JSE:NPN is yet to fill its gap. PRX is trading below key MAs, if there's no bounce here, it might go test the recent low at R710.
Naspers is showing a reversal Symmetrical Triangle It has broken to the downside instead of the continued upside showing a further drop to come. This is bearish with the first target of R1,666.74.
JSE:NPN & JSE:PRX traded above the 200 dMA mid-June, bringing a glimpse of hope. A decent move it was for Naspers (the move resulted in a profitable position, in a tough market, sibonga noma yini) but Prosus is now below the level and there's a gap that might be filled. Naspers is still above the MA, but for how long?
The price has broken out of a symmetrical triangle pattern on JSE:NPN . If it continues downwards, our short position will be triggered.
Naspers - Short for the Gap to be filled Naspers short - Retest of 2135 , Break below confirms the gap fill
An upward trendline ahs been broken on JSE:NPN as well as the stochastic and MACD both turning downwards. This could mean that we could be seeing a downward move if it breaks lower. Be cautious, though, as the markets have been extremely volatile lately.
As with JSE:NPN , JSE:PRX is also showing signs for a long position as per our momentum strategy.
All three of our momentum indicators are signaling a long position on JSE:NPN . So if it continues up today, we will enter the trade.
Shanghai and China covid lockdowns resulted in green open this morning. RSI looking stronger. Trading at around 65% discount to NAV. Source: (anchorcapital.co.za) I believe we reached the turning point,Target 197700. Not trading advice, solely personal opinion.
Hello Traders, Investors and Speculants :), You probably heard about Tencent holdings investment group.: These days you can hear some Fundamental analysis about Naspers / Prosus tranfer (spin-off) from South Africa exchange to Amsterdam. Many super-investors (value investors) like Guy Spier / Mohnish Pabrai are most likely increasing their position in Tencent...