JSE:NPN has formed a bearish harami and has broken through an ascending support level. I will enter this short if it breaches the fractal that formed on the candle of the 13th of June.
JSE:NPN has triggered a long position on our trend-following momentum strategy. Be cautious with this one, as it has been going up for quite a while and might be due for a retracement soon.
Looking at NASPERS, we may derive the following from the Daily chart: 1. Price is at the 61.8 retracement level. 2. The candles over the past two days were both bearish, despite having entered back into the daily trend. 3. We are at a backtest of the daily trend - since this is retracement wave. 4. Should we come back down, then the target is the weekly...
JSE:NPN has broken through a descending resistance level. I will wait for confirmation on todays price action before entering a long.
The stock price is moving in a series of impulses and corrections , as it nears the ascending trendline. Possible targets are around the 271 330, which represents the bottom of the bear flag pattern. The price has already broken through the bear flag pattern and is moving closer to the target area.
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.
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.
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...
JSE:NPN is looking good for a short on our trend following momentum strategy. Trade with caution as NPN has been very volatile of late.
Currently we have a failed breakout in play of the October balance below 2920. We could revisit the 2 High Volume areas of the balance at 2723 and 2573. This Is my primary scenario A. Alternatively, scenario B, NPN stabilizes above 2920 level for a shot higher back to 3000 and above. Levels in RED are intra-day levels to watch.
Established in South Africa in 1915, Naspers Limited is a media, internet and entertainment powerhouse with a footprint in more than 130 countries, and is one of the largest technology investors in the world today. The group’s principal operations are in e-commerce, video entertainment, print and online media. Naspers shares have continuously been one of the JSE...
According to Lester Davids, Trading Desk analyst at Unum Capital: "Some positivity on the Tencent Chart - Could be a driver tomorrow. - Bullish Divergence - Extended well below it's 200dma (HK$404) - Chinese market sentiment overwhelming negative" Contact the Trading Desk on +27 (0)11 3842920 or tradingdesk@unum.co.za to discuss.