Partner with US
login
Open Free Account

Resources

Naspers - Potential "buy" technical note

/
Barry Dumas
Naspers14marz.png

Naspers has presented a trade opportunity,  and I am looking to go long as the price action has broken out from a descending channel, and a daily close above the 351857c level is supporting my sentiment for a buy.

Tencent Holdings Ltd.

Tencent Holdings Ltd. being a good leading indicator for Naspers is also moving higher from a triangle breakout and is set for a target price of around 480 HKD as seen in chart below.

Take note that with the technical set up, the price might move lower to re-test the breakout area before moving higher from there.

Naspers14Mar.png

 Source: Bloomberg

Naspers Limited (NPN)

With the technical set-up on Naspers, please take note not to enter the trade prematurely as the price action may move lower to re-test the channel breakout before moving higher from there, as in the case with Tencent Holdings Ltd.

Trade: Naspers Limited (NPN)

  • Entry (Buy): 362689c
  • Stop loss: 343875c
  • Target price 1: 385111c
  • Target price 2: 414299c

Naspers14marz.png

 Source: Bloomberg

Disclaimer: Any opinions, news, research, analyses, prices, or other information contained within this research is provided as general market commentary, and does not constitute investment advice. GT247.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information. The content contained within is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.

SEARCH ALL RESEARCH