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Jseprx

PROSUS showing upside to come to R1661.98 after W BreakW 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 buying the price up. ABOUT: Prosus is a global consumer internet group headquartered in the Netherlands, with a primary listing on Euronext Amsterdam and a secondary listing on the JSE. It was established in 2019 as a spin-off of Naspers, a South African media and technology company. Prosus is one of the largest technology investors in the world, focusing on sectors such as online classifieds, food delivery, payments and fintech, education technology, and more. The company has a diverse portfolio of investments in leading technology companies globally, including significant stakes in Tencent Holdings, Delivery Hero, and Mail.ru Group. Prosus is known for its strong presence in emerging markets, particularly in countries such as India, China, Russia, Brazil, and South Africa. Its most notable investment is a 31% stake in Tencent, a Chinese multinational conglomerate and one of the world's largest internet companies. As of its latest annual report in March 2023, Prosus had investments in over 200 companies across more than 90 countries.
JSE:PRXLong
by Timonrosso
Prosus hit our target up at R1,446 now expect downsideTarget hit at R1,446 recently from a larger Cup and Handle. And since then we had the price go up one more day before entering into a strong sideways range. During this time it formed an Inv Cup and Handle with a few bearish signals. 21>7 - bearish Price>200 - Bullish Target R1,1033 RSI<50 Bearish WARNING Even though we expect the price to drop, it's only correcting and equilibrating back to the 200MA elastic mean zone. Once the price reaches here, there'll be a test between the bulls and bears before a chosen direction is established.
JSE:PRXShort
by Timonrosso
Prosus hit our price target at R1,445 and enters into a bullSince we sent out the trade idea on Prosus, it formed a beautiful Cup and Handle which broke our of the brim level. 7>21>200 Moving averages all looked perfect and RSI was above 50 Green backgrounds all around. The first target he set was to R1,445.20. WHich it hit last week. Now unfortunately, there is no other chart pattern that's formed but instead a bull (rising) channel is on the way. This is where trend traders will ride it on up until the trend breaks. It doesn't give us breakout traders a good entry level but for others I'm sure they can raise their trailing stops and keep it going. General Facts: Prosus is a Netherlands-based investment company (that operates in more than 80 countries) that was created through the spin-off of Tencent's international internet assets. The company's primary focus is on the technology and internet sector. You'll find it's listed on the Euronext Amsterdam stock exchange and the Johannesburg Stock Exchange (JSE). For our analysis we are talking about the one listed on the JSE (South Africa) Prosus has a market capitalization of over $100 billion and its portfolio includes investments in companies like Naspers, MakeMyTrip, and Delivery Hero.
JSE:PRXLong
by Timonrosso
Prosus also long to R1,445.20 and correlates to Naspers ideaCup and Handle also has formed on Prosus with the Moving averages looking strong with 7>21>200 Target R1,445.20. There is a strong correlation with Naspers which is showing almost identical charts. The RSI has also broken above the Negative divergence and is in the upward momentum territory >50. The only concern as I often mention are the gaps in the charts which shows high volatility and potential for Gaps close. The bias however is bullish.
JSE:PRXLong
by Timonrosso
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