Naspers is going up - this is stuff they don't want you to knowCup 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 trade the arbitrage between Tencent (China) and Naspers SA
2. Prop traders love to scalp on lower time frames chasing the daily runs, falls and gaps.
3. You'll see in the volume with Naspers there are tons of 1's thrown into the buys and sells. This is to spook traders out as they have to pay more brokerage.
A company like Naspers is a major game player for many traders and for this reason, the erratic movements in the charts look like this.
