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Naspers - Technical Trade Note

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Dean Bakos
naspers JAN 22

 

(Naspers Chart above)

NASPERS was the darling of the JSE in 2017. And throughout 2018 so far it has been on a nice uptrend. I write this trade note today because we can see on the chart of TENCENT (700) has broken above a critical resistance line. NASPERS has formed itself a nice rising wedge. Looking for a close above 380000 for entry. One can also wait for a pullback to around 360000 to Buy. Either way my target is 415000 for NASPERS.

TENCENT CHART:

tencent 22 JAn .jpg

Goldman Sachs announced that they expect SA to be one of the emerging markets that are going to perform well in 2018. This statement has brought with it a lot of volume into our JSE stocks. Because of 2017 performance , NASPERS will definitely be one that investors look to in 2018.

Trade Summary:

ENTRY: A daily close above 380000/Place a buy order at 380000

SL: 340000

TP: 415000

All the best!

 
 

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