NASPERS LICKING ITS WOUNDS - IS RELIEF IN SIGHT?Established in South Africa in 1915, Naspers Limited is a media, internet and entertainment powerhouse with a footprint in more than 130 countries, and is one of the largest technology investors in the world today. The group’s principal operations are in e-commerce, video entertainment, print and online media.
Naspers shares have continuously been one of the JSE stocks, outperforming the all share index by almost 300%. Investors who decided to buy R 10 000 worth of Naspers shares in 2001, would be sitting on a return of more than R 1 million.
That is a fantastic record but a very large part of this performance is based on a really well timed purchase into the Chinese tech giant, Tencent. This presents a challenge for Naspers going forward because Tencent has plummeted in value on concerns that it can no longer keep scaling it's revenues. This is evident with the fall in Naspers share price. Naspers is also releasing MultiChoice in order to list as a separate entity under MultiChoice Group which may be adding to some serious uncertainty as this weakens their business diversity.
Let's look at the technicals
Weekly (pink): We can see that price has broken through a significant support trend line and there is a lot of supply in the market at this level, driving the price further. The break of the 38.2% Fib retracement level also indicates that the lower 50% retracement level is on the cards.
Daily (blue): This setup looks like a typical correction with the impulse on the left, the corrective structure and then the impulse on the right expected after 3 or 5 waves. I think it is quite possible that we will see the end of wave 3 on the 50% retracement level and will be looking for a reversal from there. We may also see a deeper correction so it is important to wait for the reversal to be confirmed before jumping into this one.
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Happy trading!
Linton White
Green Box Markets
Entertainment
SIRI - Fibretrace at 0.618SIRI has acquired Pandora (P) and will likely increase subscriptions in coming quarters.
Earnings coming Oct. 26th
Dividend currently measly $0.01/Qtr or $0.04, or 0.64% with current price.
Unless market further corrects this should bounce to 0.500 fibretrace next week for 5% jump, ideally 382 for 10% target.
Placing low ball open order below this at $6.15.
Tron [TRX] Acquires BitTorrent - Great Potential [LONG]• 61.8 Fib Retracement clear and concise
ª ABC Elliot Wave correction currently underway
• If current support holds we’ll see a rise to previous descending lower-high of .00000914 BTC.
• Once that has been tested, if resistance is broken, next long target will be .00001080 BTC
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only. it should not be considered financial advice***
TRON [TRX] IS THE TALK OF THE TOWNAs you can see in the chart, a reversal breakout is imminent given the data shown. The current channel resistance is being tested as we speak and most indicators are showing bullish, positive signs of a recovery. In the unlikely case of a negative breakout, the bear signal will only be confirmed if the support at .00000385 is broken considerably. You can also see that I've gone ahead and marked the ABC Elliot Wave correction wave points. I only did this after I counted the impulses going up and corroborated it with EWO_LB indicator used at the bottom of the chart.
TARGETS
• TARGET #1: .00000617
• TARGET #2: .00000763
INDICATORS (some not shown)
• RSI: 49.99 - SHOWING BULLISH MOMENTUM
• VOLUME ENVELOPE: SHOWING BULLISH MOMENTUM.
• STOCHASTIC FAST (14,3,1) : 40.506
• AVERAGE DIRECTIONAL INDEX (14): 23.10
• WILLIAMS PERCENT RANGE (14): -59.49
As always, I recommend for every one to further expand their knowledge and do as much research as possible when investing. These are my own personal opinions and should be considered educational resources rather than financial advice. Good luck out there cryptonauts.
ABOUT TRON
TRON is a blockchain-based, open-source protocol for the global digital entertainment industry. TRON supports various kinds of blockchain networks and smart contract systems, including bitcoin, Ethereum, EOS, Qtum, and other public blockchain smart contracts, provides developers with multiprotocol infrastructure for entertainment app development, and allows users to enjoy smooth multiprotocol smart networks.
WHITEPAPER: o836fhe91.qnssl.com
ATVI updated long opportunitybuy point ~ $61
target ~ $66.7
stop loss ~ $59.7
potential gain of approximately 9%
potential loss of approximately 2%
slightly better than 4:1 risk reward ratio
catalysts for this stock in the upcoming months:
+their overwatch league will be launching soon
+their new call of duty game will release ahead of the holiday season
DISCA Contracting, possible BUY.This trade may be difficult to enter, but if it sets up right we can a good trade. I am waiting for a break from my triangle lines, expecting that to happen around or near Earnings Release.
Disney (DIS) already priced performance in. The 14.5% increase from the last earnings demonstrates that Disney has already priced in stellar performance. Holding over earnings may provide a small portfolio boost if you're lucky, but downside risks present kill make it just straight up gambling in my opinion.
Bearish MACD shows upward moment is getting exhausted.
RGC Possible BreakoutDowntrend has been broken. Watching for upside in the $20 price range. RGC goes Ex-Dividend tomorrow, 5/30/14 for a $0.22 dividend.