Naspers: During May there were technical signs that the share could under-perform the broader market (See original relative chart attached: NPN vs EW Top 40, dated 13 May).
A relative chart of NPN vs equally-weighted Top40 showed the multi-year channel being breached. Traded at R3000 then, now near R2300. Turn up here, or more downside? Monitoring.
(The equally weighted chart of the Top 40 has subsequently been removed therefore I cannot compare it to NPN here, but rather overlay NPN and the Top 40).
For more insights and real-time ideas well as how we are looking at Naspers/Prosus, get in touch today.
A relative chart of NPN vs equally-weighted Top40 showed the multi-year channel being breached. Traded at R3000 then, now near R2300. Turn up here, or more downside? Monitoring.
(The equally weighted chart of the Top 40 has subsequently been removed therefore I cannot compare it to NPN here, but rather overlay NPN and the Top 40).
For more insights and real-time ideas well as how we are looking at Naspers/Prosus, get in touch today.
