NPN trade ideas
Naspers volume evaporating on the move higher + test of 200 dmaWhat worries me about this move higher since bottoming at R2362 is that the volume profile has been declining. Normally a bottom will see an increase in volume. this is a weak move formed to stop out the weak hands (shorts) in the market. Also if you plot your shorter term moving averages, 20/50/89/100mas they are all trading below the 200dma which is again another indicator that the trend is down. I would be taking profit and looking to get short at this point...
$JSENPNJSE:NPN
Tried to break and close above 3000 resistance but this morning pulling back.
Big negative divs on indicators.
Probably will go the test bottom of the range
Naspers finally breaks the psychological R 3000 resistance…time
The share price is expected to build a solid base slightly above this level (R 3000.00) to confirm a bullish trend ahead…
The bullish view is furthermore re-affirmed by the recent consolidation slightly below the R 3000.00 handle after testing lows at R 2400.00 in mid October 2018.... sellers shaking the tree a bit. Medium target in sight R 3600.00 (20.00%) upside.. Longer term target could possibly push beyond the R 4000.00 level.. will be a volatile ride ahead.. Near term implied volatility trading at 42.50v.
$JSENPN Bearish flag?Naspers seems to be forming a bearish flag over the last couple of days. Wait for a closure below the R2850 level to confirm the break. Target would be just under R2700 if this plays out
NPN Short on Trend following Momentum StratgyJSE:NPN is looking good for a short on our trend following momentum strategy.
Trade with caution as NPN has been very volatile of late.
$JSENPNJSE:NPN
Making big engulfing bearish bar at very strong resistance. Clear negative divs in place
NPN - Broke trend and re-testedJSE:NPN was trading in a downward trend since late August but recently broke through the trend line. It retested the level and has now become support. We have entered long, but need to be aware of the possible resistance at 300000. Hopefully it will break through this and hit our target.
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.
$JSENPN hourly chartJSE:NPN
As posted few days ago $JSENPN is stuck in symmetrical triangle. Last push didn't get to the top of triangle so chances we are going to back test bottom and eventually broke lower are increasing.
$JSENPNJSE:NPN
Making symmetrical triangle. Back to 260000 or there about.
Break bellow will probably open 200000/220000 area
NPNI am looking for buy opportunities on this pair as the 5 impulsive waves down have completes, I do not trade wave B so I wait for a n entry from a buy limit order@277742 OR a buy stop @295501 TO tp@326535. This is confirmed by the trendline broken out and also a possible King's Crown
JSE:NPN Road map for the week ahead.2018/11/05Currently we have a failed breakout in play of the October balance below 2920. We could revisit the 2 High Volume areas of the balance at 2723 and 2573. This Is my primary scenario A. Alternatively, scenario B, NPN stabilizes above 2920 level for a shot higher back to 3000 and above. Levels in RED are intra-day levels to watch.
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
$JSENPNJSE:NPN
Broke bellow support around 285000. Flat bottom triangle is in place. Target 160000/170000
I'm afraid that golden time for $JSENPN are behind us.
