Price reversal and pivot from the end of wave 4. It also also flagged DeMark Sequential buy #9. Buying today with 1% allocation. Open @ 28.23 TP @ 29.75 c.5.4%
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Strategy:
Based on Elliot wave theory, pivot points and classic chart patterns. The 5th wave pivot strategy identifies the last impulse of the Elliot wave sequence. The 5th wave can be...
See link below for previous analysis.
*Prices updated to post-share split adjusted prices.
Price traded much lower and invalidated the triangle outlook.
The overall wave count for Prosus and Naspers is still tricky but I am still counting the advance as a zig zag.
I will maintain a bullish stance above 48240 and buy the dips.
China is looking at reducing spending on gaming and this news was priced in aggressively. Prosus was a stock I was looking into last week but the price was too high with signs of slowing momentum to the upside. The 52-week moving average was showing signs of not being able to sustain the price above it.
Today, we had the opportunity to jump into Prosus at a...
Prosus N.V
1. Price Formation: The price has broken out from an inverted Cup and Handle price formation on a daily chart within a rising channel.
2. Moving Averages: The 7-day moving average (MA) is below the 21-day MA, which is a sign indicating short-term bearish momentum.
3. 200-day Moving Average is above the Price.
4. Thus, Mas 7<21 < 200
5. Relative Strength...
PRX has carved a nice broadening wedge that has forced price into lower highs and lower lows. Price is currently seeking a half cycle correction after which it must challenge resistance again.
If there is a rejection on the resistance we can expect a sharp move down (can go straight down also), ideally that should have an objective of the lower support line,...
On 11th September 2019, Naspers (NPN) separately listed Prosus (PRX) on the Euronext in Amsterdam to house all its international assets including its stake in Tencent, Mail.Ru and other internet brands. Naspers holds 73% of Prosus and there is a 25% free float. One of the benefits of the Euronext listing is that it removes the risk inherent in the rand, so Prosus...
Prosus has shown a nice Up Trend from the recent Lows and Double bottom.
This is an update from my recent Study.
Possible Key Resistance and Support levels are depicted.
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Prosus has been following the recent market trends.
My study shows R496 as critical level for support, otherwise, some more pain.
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JSE:PRX and JSE:NPN don't look healthy, on the charts. Both stocks have been weak for a while now. Prosus is on the verge of breaking below a potential support level, this opens a window for lower prices to be tested.
On 11th September 2019, Naspers (NPN) separately listed Prosus (PRX) on the Euronext in Amsterdam to house all its international assets including its stake in Tencent, Mail.Ru and other internet brands. Naspers holds 73% of Prosus and there is a 25% free float. One of the benefits of the Euronext listing is that it removes the risk inherent in the rand, so Prosus...
Prosus stock has has an interesting trading history since listing in September 2019.
The stock made an all time high in January 2021 and and had a strong sell-off in a three wave zigzag to an all time low in March 2022.
The recovery from the all time low can be labeled in numerous ways but in the short-term, it does not really matter.
What catches my eye is the...
There is a super strong correlation with Naspers and Prosus.
So yes, it would make sense to buy both. But with such a strong correlation one could just double on the investment on one of their trades to avoid extra costs?
That's just me thinking out loud.
Naspers and Prosus are closely correlated in price chart because of the relationship between the two...
W Formation formed after it's been in consolidation for a while now.
The previous trend was up, so the conditions have lined up as a high probability trade.
The price has broken above and looks to be heading up.
7>21>200
RSI >50
Target R1661.98
SMC Sell Side Liquidity Order Block just below the Second leg of the W Formation. This is where Smart Money has been...
The R1323-R1475 zone continues to be a headwind for the bulls (R1405 strong resistance)
Short term Moving averages have flattened as the stock gets ready for the next big leg.
Similar to our JSE:NPN trade, , the bullish engulfing that formed on JSE:PRX seems to be playing out nicely, and I wouldn't be surprised if it reached is target in the next few trading days.
