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...
Prosus act as a Fund which is holding around 28% of TENCENT shares + some other interesting businesses (like e-commerce, food delivery, Payment systems, Elearning platforms) ...
For long term hodling this could be interesting pick. But is the Price correct right now or should we wait with Buy orders ?
CHart should show it all. We can see...
Last year, on the 14th December 2020 we wrote an article about our Investment Club software and our in-house company portfolio which we run on that software. As we said in that article, running this portfolio has proved to be a highly motivating exercise for our staff.
Since 14 December last year, there has been just one change to the portfolio, when the Clicks...
- Following the previous post in the link below , price is back at another "key" level
- Down sloping 50 day moving average
- Down Trendline
- Below the 200 day moving average
We could flag here to reset for the next push up or fade back down to earlier support zone. Im still bullish on the long term but am cautiously watching each level of resistance
JSE:PRX has been trading in somewhat of a channel since April 2020. Two day's a go it broke out of the channel and looked like it would continue up, but instead formed a shooting star pattern. Yesterday and today are showing strong downward momentum. We could see a move towards the bottom of the channel or to the support level at around 150000.
Just entered a short position in EURONEXT:PRX .
Entry @ 87,75
Stop @ 91,20 (-3,9%)
Target @ 75,20 (+14,3%)
There's long term divergence MACD (sell signal given) and RSI (sell signal given). DMI confirms with a DI - > DI + and ADX rising; confirming downtrend.
At the moment there's some gap filing going on, it's just waiting for the red rising support line to be...
JSE:PRX formed a bearish harami on Thursday last week which is a top reversal signal.
This was confirmed by the break through the upward trendline and the stochastic.
This could mean a move downward for a while if confirmed by breaking below the low of last Wednesday.
We are developing a scary head and shoulders top formation in both Naspers and Prosus. Should we convincingly break below the necklines of the respective charts at approximately R2376 and R1050 respectively, we have downside targets some 18.6% and 13.6% away from current levels on Naspers and Prosus. (Price targets if H&S formation plays out, NPN : R2014, PRX: R927)
- Interesting break of the down trend
- I would like to see price come back and test this downtrend then continue up to enter a long
- MANAGE YOUR RISK -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.