H&S confirmed with today's close below neckline support.
But with RSI approaching oversold territory, I would wait for a potential retest of (previous) support as resistance before pulling the trigger; Its not 'advisable' to 'short' an oversold market.
Price up against the 100dma which is known as the 'buy the dip/short the bounce' level.
Can it (100dma) play that 'short the bounce' role again this time, like it has done on 4 occasions during the past year?
For as long as the trend is down, I'm bearish on the pair.
Issues to do with their complex shareholding structure (which top SA asset managers has teamed up against) aside; technically it Looks like a Head & Shoulder technical pattern is forming on the Naspers daily chart.
If confirmed, it points to 2,200.