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PROSUS NV EO -,05PP

PROSUS NV EO -,05

42.935EURD
−0.245−0.57%
At close at Mar 21, 22:11 GMT
EUR
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1TY trade ideas

Prosus & NaspersReferring only to my tactical data/trading commentary as at Friday's close, both PRX and NPN were the only the names suggesting: "Reward-to-risk becoming attractive for a small long position". Here you can possibly add the phrase: "Phase In". As we noted for both PRX & NPN last week (see related), the price could attempt stabilize, with one or two days of weakness before attempt a rebound. With the help of a weaker ZAR and possibly sight of the prospectus (see SENS), both names are higher between 1.45% and 2.11% so far today.
JSE:PRX
by LD_Perspectives
PRXAn extract from today's Active Trading Plan. - No doubt that the the price action in PRX and NPN has been terrible, with continuous selling. - Yesterday we saw a gap at the open and continuous selling pressure into the close. - Extracting the daily tactical data, the reading suggests: “becoming attractive for small long position”, but would look to add: “phase in”. - For tactical and ultra short term traders, if you want to be long, the following applies: - If the share opens lower but reclaims Monday’s low, then it will be a signal that the share is attempting to stabilize. - Please note, it must reclaim the prior day’s low (R1304) to trigger. Similar to yesterday's comment on NPN.
J
by LD_Perspectives
ProsusPRX has been on a solid downward trend since it's most recent peak on 19 February. In a prior manual analysis, I mentioned that the 1805/1815 area would be a distribution zone. We overshot this area slightly before moving lower to now trade at multi-month lows. Yesterday we may have had a 'flush-out' candle while today we are trying to reclaim the lows. At R1523, the share appears oversold and may be worth a buy for a bounce back to the R1600 - R1615 level. Stop: R1490.
JLong
by LD_Perspectives
1
PRX The chart is an extract from my weekly report. Prosus N.V (PRX, R1864.66) | Pivot Cleared | The share currently trades close to it's all time highs, having cleared the overhead resistance (R1765/1800) in place since July 2020. Over the same period, we note the price having made higher lows, which signifies buyers becoming more aggressive on each pullback. Traders/investors want to remain long as long as the R1765/1800 level is held. The accompanying chart timeframe is monthly which shows the Relative Strength Index with a 75 reading (very strong rank).
J
by LD_Perspectives