Naspers - Breakout or Fakeout ??🤨
Naspers closed the month near its highs and above the previous month high.
Next major levels are the swing high at R3582 and R3605 .
Bulls hold the upper hand above R3315.
A fakeout is a false breakout that occurs when the price moves outside of a chart pattern but then moves right back inside it. It is also known as a “false breakout” or a “failed break”. In trading, a fakeout is when a trader puts on a position expecting it to move in a direction and it fails to do so. Many traders will plan their exit by offsetting orders to make sure their potential losses are limited.
Next major levels are the swing high at R3582 and R3605 .
Bulls hold the upper hand above R3315.
A fakeout is a false breakout that occurs when the price moves outside of a chart pattern but then moves right back inside it. It is also known as a “false breakout” or a “failed break”. In trading, a fakeout is when a trader puts on a position expecting it to move in a direction and it fails to do so. Many traders will plan their exit by offsetting orders to make sure their potential losses are limited.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.