JSE:NPN Naspers Testing the Long-term Trend Channel

9 dic 2018

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.