Naspers Bullish outlook Continues
1. Price Formation: The price has broken out from a symmetrical triangle price formation on a daily chart.
2. Moving Averages: The 7-day moving average (MA) is above the 21-day MA, which is a positive sign indicating short-term bullish momentum.
3. 200-day Moving Average is below the Price.
4. Thus, Mas 7>21>200
5. Relative Strength Index (RSI): The RSI is greater than 50, indicating bullish momentum and potential further upward movement.
6. Price Target: R4100
Naspers – the company
Naspers is a multinational consumer internet company headquartered in Cape Town, South Africa. Its principal operations include online classified advertising, fintech, payments, and food delivery.
The company was founded in 1915 and has since grown into one of the largest technology investors globally, particularly known for its 31.2% stake in Tencent, a Chinese multinational technology conglomerate. This investment has been incredibly lucrative for Naspers and has significantly contributed to its market value.
Naspers has two primary listed entities: Naspers itself, listed on the Johannesburg Stock Exchange (JSE), and Prosus, which was listed on Euronext Amsterdam in September 2019. Prosus includes Naspers's international internet assets, with stakes in companies like Tencent, food delivery service Delivery Hero, and Russia's internet platform Mail.ru.
The performance of Naspers and Prosus shares are closely tied to the performance of Tencent due to the size of Naspers' stake in the company.
1. Price Formation: The price has broken out from a symmetrical triangle price formation on a daily chart.
2. Moving Averages: The 7-day moving average (MA) is above the 21-day MA, which is a positive sign indicating short-term bullish momentum.
3. 200-day Moving Average is below the Price.
4. Thus, Mas 7>21>200
5. Relative Strength Index (RSI): The RSI is greater than 50, indicating bullish momentum and potential further upward movement.
6. Price Target: R4100
Naspers – the company
Naspers is a multinational consumer internet company headquartered in Cape Town, South Africa. Its principal operations include online classified advertising, fintech, payments, and food delivery.
The company was founded in 1915 and has since grown into one of the largest technology investors globally, particularly known for its 31.2% stake in Tencent, a Chinese multinational technology conglomerate. This investment has been incredibly lucrative for Naspers and has significantly contributed to its market value.
Naspers has two primary listed entities: Naspers itself, listed on the Johannesburg Stock Exchange (JSE), and Prosus, which was listed on Euronext Amsterdam in September 2019. Prosus includes Naspers's international internet assets, with stakes in companies like Tencent, food delivery service Delivery Hero, and Russia's internet platform Mail.ru.
The performance of Naspers and Prosus shares are closely tied to the performance of Tencent due to the size of Naspers' stake in the company.
Trade closed: stop reached