UPDATE: Naspers short confirmed to target R2,766
Break in Uptrend structure confirmed and we are no longer in an uptrend.
We've been in a sideways range and now entering a bear market as of today.
We now have a largeish Inv Cup and Handle with a few bearish signals.
21>7 - bearish
price>200 - Bullish
RSI <50 - Bearish lower highs
Target R2,766.00
WARNING
Even though we expect the price to drop, it's only correcting back to the 200MA zone.
Once the price gets there, we'll see a test between the bulls and bears before a chosen direction is established.
We've been in a sideways range and now entering a bear market as of today.
We now have a largeish Inv Cup and Handle with a few bearish signals.
21>7 - bearish
price>200 - Bullish
RSI <50 - Bearish lower highs
Target R2,766.00
WARNING
Even though we expect the price to drop, it's only correcting back to the 200MA zone.
Once the price gets there, we'll see a test between the bulls and bears before a chosen direction is established.
✅ Facebook:
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
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