We give a quick recap of markets overnight and the previous day and insights into the day ahead with a few trade ideas on the day. Ideas are strictly NOT INVESTMENT ADVICE.
Possible invert head and shoulders forming on PRX. The head measure 10% so one can expect a 10% rally if it can break and close above the neckline. The red lines shows resistance just above the neckline. Interesting chart nonetheless. Trade ideas are my own and not financial advice.
JSE:PRX has formed an inverted head and shoulders pattern. With a break of the neckline we could see a move to the target at around the 160000 resistance level.
Backed by a good set of results Prosus looks like it could break from this inversed head and shoulders formation with a target of around 1600.
We give a quick recap of markets overnight and the previous day and insights into the day ahead with a few trade ideas on the day. Ideas are strictly NOT INVESTMENT ADVICE.
Downside price momentum supports a bearish trend. RSI leaves enough room for further such downside. A price action below 127700 supports a bearish trend. ADX suggests a strong bearish trend gaining strength. MACD bearish crossover applicable.
We give a quick recap of markets overnight and the previous day and insights into the day ahead with a few trade ideas on the day. Ideas are strictly NOT INVESTMENT ADVICE.
Rectangle not yet activated. Needs to break 80$ resistante. If you trust in charting and rectangles, current stop is 65.90$ zone.
We give a quick recap of markets overnight and the previous day and insights into the day ahead with a few trade ideas on the day. Ideas are strictly NOT INVESTMENT ADVICE.
We give a quick recap of markets overnight and the previous day and insights into the day ahead with a few trade ideas on the day. Ideas are strictly NOT INVESTMENT ADVICE.
RSI indicator are showing that Prosus NV is oversold. For educational purposes only.
Following Naspers we have seen a bounce yesterday but this should not be seen as a recovery. It could cause some sideways action but there is still some down site to come.
Referring only to my tactical data/trading commentary as at Friday's close, both PRX and NPN were the only the names suggesting: "Reward-to-risk becoming attractive for a small long position". Here you can possibly add the phrase: "Phase In". As we noted for both PRX & NPN last week (see related), the price could attempt stabilize, with one or two days of weakness...
An extract from today's Active Trading Plan. - No doubt that the the price action in PRX and NPN has been terrible, with continuous selling. - Yesterday we saw a gap at the open and continuous selling pressure into the close. - Extracting the daily tactical data, the reading suggests: “becoming attractive for small long position”, but would look to add: “phase...
head shoulders+ divergence (price-momentum)+golden cross with important volume + cross momentum =95%sell signal please like and comment if you find my chart interesting
As expected Prosus keeps following Naspers down - see posts below. However, Prosus is weaker than Naspers and has already broken the yearly pivot point and the recent redistribution remained below this. Again the high volume selling is seen indicating some urgency to dump the stock. Today we see the breakout of the recent redistribution trading range and this week...