Naspers has broken out of it’s downward channel, signaling a desire to make a short term directional change. The price has started to make higher lows over the past few sessions and is looking to break above 2281 – a level which has served as the most recent resistance zone. It also continues to trade above the share’s rising 200-day moving average while the RSI is gradually starting to tick higher. At current levels, traders could consider a buy/long on the share.
Buy/Long NPN at current levels R2279 (or better)
Use a stop-loss of R2230 to protect capital
Take profit at or near R2380 (“gap”)