I've been short on this fella for a while now... still hanging in there... but it's now or never.
* Stock dumped by directors
* Tencent looking like a downtrend perhaps
* And 3 gaps down, something needs to give
Naspers joy ride continues. Like riding a bull in a rodeo, with ups and a lot of downs, we can finally rest assured that the trend continues in our upside favor.
Next major resistance is our next target area.
Naspers has been moving super in our favour.
I'll be adjusting the stop loss to R3,202,18 as the trade has been on for quite a while and we need to secure profits with medium term trades.
still bullish though.
My price action guide for Monday showed ~2703 as a key re-accumulation range for intraday/ultra short term traders, with the share trading as high as 2795 on the day.
For more research insights, including trade ideas, get in touch today.
Between SPX pushing lower and China pjshing higher, im not sure if this one might be a bit of a push and pull.
But there are sooooo many gaps down, its like 70% chance of some to be closed. Might need some patience.
Break through both uptrend will signal a hard sell.
Cup and Handle has formed on Naspers and has even gapped up showing strong momentum.
7 >21 >200 Moving averages all turned up.
Target 1 is R3,626.50
CONCERN is that Gaps close 70% of the time and Naspers is a wild one which acts erratically.
Number of reasons which I don't think they'll be happy if I tell you but I'm an independent.
1. Companies love to...
So, the "GAP" trade played out in a spectacular fashion with Naspers dropping a whopping 17.50 % and in doing so it created an upside gap which bulls will likely want to close.
R1700 needs to be defended to prevent a further leg down to possibly test swing lows from May 22'
It may take a few sessions to create a decent base to work off so i don't expect a V type...
Relative performance and relative strength is meant to assist traders and investors in understanding the appropriate weighting/positioning versus the overall market. Combined with additional factors, a trader is able to determine whether they should hold an equal weight, underweight and overweight position versus the index. The data below represents the relative...
JSE:PRX closed its gap & we anticipated that JSE:NPN might close its gap as well. The good news is that the gap has been closed, and another gap has been opened.
Should we blame HKEX:700 or Comrade Xi?
NPN has broken back below its 255MA from a descending triangle pattern that formed over the last 3months.
possible targets are the 1870 and 1710 level for the bears
