NASPERS LTD -N-Short
JSE:NPN Naspers Reversal Bar
I started to look at the signs of weakness in Naspers in December - see post below - but after a good rally in January I thought that I may have read things incorrectly. However, now after an upthrust action and failed test of the highs on lower volume, we have seen a significant reversal bar. The size of the daily bar is larger than any bar for some time. This could mean that following the Wyckoff theory that we have only now seen the up trust (UT) and test in Phase C and a markdown in phase D is likely to start and then further down the line a further markdown out of the distribution up sloping trading range.
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