End of week 12Apr19. Another great week for #Coronation & #Naspers. FTSE/JSE Allshare Top5 oversold/overbought according to 14day RSI indicator as follow:
Sun Intl 28
Spending a bit of time on Naspers. What a great year $JSENPN (YTD...
JSE:NPN has shown a dark cloud cover, which often signifies a trend reversal, so I will enter short.
However, it has been in a very strong uptrend for a while, so I will trade with caution in case it continues upward.
A big bearish engulfing candle forming on NPN. Could result in some weakness creeping in. Target would be gap close around 3390 on engulfing confirmation by the end of today. Wait for daily confirmation.
There's been a pennant forming within a bearish trending channel. I am thus expecting that if there be a breakout off this pennant, we will enter with the sellers at 305869 Price level. I am only looking to sell, if the price breaks off the resistance of the trending chanel, I am not part of the move.
Nexon Co. generates +/- half of it's sales from China, where Tencent distributes its popular game Dungeon & Fighter. In a statement released yesterday, they mentioned that they expect revenue from China to drop by double-digit percentage this quarter, contributing the main reason to the months-long freeze on new games.
This drove Naspers down today to a key trend...
JSE:NPN has shown a bullish harami which is a strong reversal signal. This pattern formed at a previous resistance level which strengthens the signal.
We can expect a downward move as the stochastic is also turning.
If all goes well, w can expect it to go all the way down to the support at around 280000 and we will exit the trad if it breaks through the...
What worries me about this move higher since bottoming at R2362 is that the volume profile has been declining. Normally a bottom will see an increase in volume. this is a weak move formed to stop out the weak hands (shorts) in the market. Also if you plot your shorter term moving averages, 20/50/89/100mas they are all trading below the 200dma which is again...