Today we are going to be analysing Naspers.
Due to recent events in South Africa a lot of traders are looking for Rand Hedge stocks that are not affected by by the declining of the Rand. In my opinion Naspers is one of those stocks. It has a lot of overseas exposure with companies like TenCent and it has always consistently performed over the years.
Looking at the chart it has been performing well since the news of the cabinet reshuffle.
The daily candle opened above the support line at 240,600 and its making a move to the next minor resistance level at 246,000 a break through that resistance could trigger a move to the major resistance zone at at 252,136 which is also the 52 week high.
Looking at the trend the 50 day moving average is looking to cross over the 200 day moving average. The Williams Alligator indicator is also showing a “alligator eating pattern” showing that the current trend may continue.
As always Naspers is always a good stock to buy in times of trouble, this is why its a common stock in most peoples portfolios.
*All information in this article is the authors opinion and is for educational purposes only. It does not constitute investment advice or a solicitation to buy or sell any financial instrument. Trading may expose you to risk of loss greater than your deposits and is only suitable for experienced investors who have sufficient financial means to bear such risk.