UPDATE: Naspers target to R1,591 on the way - WARNINGWe'll get into what happened to Naspers in a bit, or just scroll down...
But I need to mention something, that not many people know.
About two years ago, I stopped trading Naspers.
It was so rigged and manipulated between many factors and alogrithms.
1. First with TenCent, then with Prosus.
Then with prop funds who just make money with the incremental moves throwing in 1s and manipulating the market on only technicals.
Well, we sent out a short potential analysis as we expected the price to drop.
A Strong M Pattern formed. Broke down. Next few days gapped up and almost reached the stop loss.
Today the price dropped over 17%. And now it looks like there's further downside to come.
But don't take my word for it because Naspers is probably one of the most difficult markets to probability predict.
Let's get into the basics of the fundamentals that took place today:
WHAT HAPPENED TO NASPERS AND PROSUS?
#1: Naspers and Prosus, the global internet and media companies, experienced a significant plunge in their share prices on Friday due to new Chinese tech regulations impacting Tencent.
#2: Beijing unveiled measures aimed at curbing spending in online games, affecting major players in the tech sector, including Tencent.
#3: The share prices of Naspers and Prosus fell sharply by 17% and 14%.
#4: The decline was triggered by concerns over the potential impact of the regulatory changes on Tencent and other companies operating in the sector.
