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Naspers after a long YEAR fight - Bears have wonIt'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 are all pointing down for now and we are more selling to come. Other indicators show downside. 200>21>7 RSI<50 Target R2,367.00
JSE:NPNShort
by Timonrosso
Naspers UPDATE on its way to the target at R4,000Falling Wedge Formation is evident on the daily chart. The price is still consolidating around the apex. We need the price to break up and out of it to confirm upside to come. 7=21 Price >200 RSI>50 Target R4,000 ABOUT THE COMPANY 2023 Naspers was founded in 1915 as a newspaper publisher in South Africa. The company is headquartered in Cape Town, South Africa. Naspers is one of the largest media and technology companies in the world. The company's most valuable asset is its stake in Tencent Holdings, a Chinese multinational conglomerate that operates several popular social media and gaming platforms. Naspers is the largest shareholder in Tencent, owning approximately 31% of the company. In addition to its stake in Tencent, Naspers also has significant investments in other internet and technology companies, including Mail.ru, Delivery Hero, and Prosus. Naspers' core businesses include online classifieds, payments and fintech, food delivery, and education technology. The company operates in over 120 countries. Naspers was one of the early investors in the Chinese e-commerce giant, Alibaba, and made a substantial profit when the company went public in 2014. The company also owns the South African online retailer, Takealot. Naspers has a market capitalization of over $100 billion as of April 2023. In 2019, Naspers spun off its international internet assets into a separate company called Prosus, which is listed on the Euronext Amsterdam exchange.
JSE:NPNLong
by Timonrosso
UPDATE: Naspers short confirmed to target R2,766Break 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.
JSE:NPNShort
by Timonrosso
Naspers is going up - this is stuff they don't want you to knowCup 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 trade the arbitrage between Tencent (China) and Naspers SA 2. Prop traders love to scalp on lower time frames chasing the daily runs, falls and gaps. 3. You'll see in the volume with Naspers there are tons of 1's thrown into the buys and sells. This is to spook traders out as they have to pay more brokerage. A company like Naspers is a major game player for many traders and for this reason, the erratic movements in the charts look like this.
JSE:NPNLong
by Timonrosso
JSE:NPN Naspers Testing the Long-term Trend Channel Naspers has been in a down sloping channel since it a throw over of the long-term trend channel and Buying Climax (BC) formed in November 2017. It has now reached the oversold line of the long-term channel and there has been some bullish action. We see a spring with increase in volume on the reaction also seen in gaps to the upside. The Volume RSI has shown divergence with price since the start of the downward sloping channel. This all seems bullish but a jump of the 200Day SMA would have to be seen to confirm the markup in Phase D.
JSE:NPNLong
by SteynTrade
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. For more information regarding our products and services, install our mobile app from the link in my signature below. Happy trading! Linton White Green Box Markets
JSE:NPN
by Linton_White