Naspers has found the going tough since the January 2023 peak, trading sideways in a wide range.
The consolidation has not been a textbook rectangle with supporting shifting zones but the resistance has been stern around 355300 cps.
The stock caught a big at 267330 and is again approaching the resistance for a third attempt to break above it.
I am neutral at...
Wednesday 21 February-2024, 07h55 | NPN Naspers Ltd | With Tencent +3% in Hong Kong this morning, it is likely that NPN rebounds in line with this move. As per yesterday's end of day tactical trading guide, the short term reading (1-10 days) is as follows "...expect a small rebound". See extract on chart.
Following on from the previous post , we did in fact get a strong rejection off the top of the channel (major gap down) . Bulls stepped in at the channel low making a decent recovery back up to resistance. The daily candles warned of resistance again and today it seems the stock will come under pressure with R3180 a possible initial target .
link to previous post...
We'll get into what happened to Naspers in a bit, or just scroll down...
But I need to mention something, that not many people know.
About two years ago, I stopped trading Naspers.
It was so rigged and manipulated between many factors and alogrithms.
1. First with TenCent, then with Prosus.
Then with prop funds who just make money with the incremental...
The stock has been trading in a sideways channel since the beginning of this year. Currently its attempting to break out but the wicks above R3500 is an indication of sellers still around.
Tencent has also been up against its 200ema and has today come under pressure. Expecting a sell-off on NPN towards its rising 20ema. Failure there opens a possibly deeper...
Naspers has been consolidating in a +-20% range between the high and the low for 2023.
Let's hope we get a Xmas rally to break the upper boundary limit and end the year on a high.
Naspers (NPN), Africa's largest company, is a massive international social media, gaming, and IT company whose main asset is 73% of Prosus (PRX) which in turn owns 26% of Tencent - a Hong Kong-listed company that provides social media services and gaming in China. Tencent has 10 of China's 20 top mobile applications reaching over 1,1bn users. Naspers itself has an...
From my research notes this morning. For more research insights, including trade ideas, get in touch today.
Tuesday 14-November-2023, 06h30 JSE Tech vs Top 40 Index. The chart below is the JSE Technology Sector relative to the JSE Top 40 Index and as well as the ratio's distance vs it's 75-Day EMA and 200-Day SMA. Here, I highlight the technology (NPN, PRX)...
It's been a trying time for Naspers Media company.
Since January 2023, up until October 2023.
The price has moved in a sideways range and has failed to break either way.
That was un 18 October 2023, where the price pierced through a solid neckline of an M Formation,
Since then, it's entered into bear market territory along with the JSE ALSI 40.
The signs...
Naspers has been trading in a very sideways fashion over since the beginning of the year with support evident in the 2920-2980 area with resistance at 3400 - 3570 on the upside. Most likely with a nibble at the bottom of the range which looks to be holding for now
Price has returned to and area of interest, a major horizontal support and just below the 200 dma.
Judging by the way Tencent is trading this morning, an attempt is likely going to take place to push back towards R3110 or the gap left behind now at R3145.
Losing this major support opens the gate to a possible double top playing out.
A double top pattern is a...
Naspers (NPN), Africa's largest company, is a massive international social media, gaming, and IT company whose main asset is 73% of Prosus (PRX) which in turn owns 26% of Tencent - a Hong Kong-listed company that provides social media services and gaming in China. Tencent has 10 of China's 20 top mobile applications reaching over 1,1bn users. Naspers itself has an...
$JSENPN #Naspers seems to be busy with a double top on the Daily chart with tops on 27 Jan '23 at R3539-54 and the second one on 1 Aug '23 at R3547-94. I suppose this is about as good as one can hope for, seeing that the two tops cover a stretch of 7 months. We see the middle point down at R2976-87 on 1 May '23, with the price currently almost closer to that than...
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...
Naspers has been trading sideways since the 27 Jan 2023 peak at 358266.
The overall trend from March 2022 is still bullish so my bias is this is a consolidation pattern for upside continuation.
A good buying level however is at the bottom of the pattern around 292306.
Until price shows its true direction, ideally with a strong breakout on high volume, i will sit...
Price is pulling back to close an open gap at R3325
RSi into oversold territory.
If buyers support the stock here i will look to trade a long position of this level.
Stop loss and Take profit on the chart.
Gaps are spaces on a chart that emerge when the price of the financial instrument significantly changes, with little or no trading in between. Gaps can...
