It's been a trying time for Naspers Media company.
Since January 2023, up until October 2023.
The price has moved in a sideways range and has failed to break either way.
That was un 18 October 2023, where the price pierced through a solid neckline of an M Formation,
Since then, it's entered into bear market territory along with the JSE ALSI 40.
The signs...
There is a super strong correlation with Naspers and Prosus.
So yes, it would make sense to buy both. But with such a strong correlation one could just double on the investment on one of their trades to avoid extra costs?
That's just me thinking out loud.
Naspers and Prosus are closely correlated in price chart because of the relationship between the two...
Falling Wedge Formation is evident on the daily chart.
The price is still consolidating around the apex.
We need the price to break up and out of it to confirm upside to come.
7=21
Price >200
RSI>50
Target R4,000
ABOUT THE COMPANY 2023
Naspers was founded in 1915 as a newspaper publisher in South Africa.
The company is headquartered in Cape Town, South...
We had a confirmation break with Naspers Inv Cup and Handle.
The price broke to the downside and now it shows strong falling to come.
7=21 price>200 - Reversal
RSI <50 - Bearish
Target R2,766.00
This coincides with the fall in JSE and other markets since the SVB collapse. I expect more Blue Chip stocks to tank until the world enters some type of equilibrium...
Break in Uptrend structure confirmed and we are no longer in an uptrend.
We've been in a sideways range and now entering a bear market as of today.
We now have a largeish Inv Cup and Handle with a few bearish signals.
21>7 - bearish
price>200 - Bullish
RSI <50 - Bearish lower highs
Target R2,766.00
WARNING
Even though we expect the price to drop, it's only...
After a fantastic long trade with Naspers, it's eventually broken below the Uptrend structure.
This means, the price is now in free fall and is more likely to touch the previous support (brim level of the last Cup and Handle).
7=21 price>200 - Reversal
RSI <50 - Bearish
Target R2,766.00
As always it is correlating with Tencent and Prosus... We saw a sluggish...
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.
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...
The company announced a partnership with Netflix and Amazon Video. Seems like another HBO content deal. They also announced the introduction of a 'new' platform.
The support service is terrible and the various streaming platforms seem broken at best.
Recently the company has experienced continued declines in the number of DStv Premium and Compact Plus...
