Well, my tencents worth on Tencent is it is trading 1% up in New York right now with another three hours to trade, so lets see what Hong Kong brings in the morning.
Naspers - NPN
#21
Posted 08 May 2014 - 10:24 PM
People who think they know everything are a great annoyance to those of us who do. (Isaac Asimov)
#22
Posted 08 May 2014 - 10:07 PM
You have nailed it...Alibaba IPO will see money switching out of likes of Tencent and other tech names.In my opinion the technicals of NPN does not matter as much. If/when the HS on Tencent break, the fall will be closer to the R750 level.
A lot of technology funds will chase Alibaba in weeks to come. They announced their IPO in this week. Money will rotate in the tech sector from mail.ru/twitter/Tencent to Alibaba. Big funds are nervous about the tech sector and does not want to commit new capital in the sector. As always, my 2c.
#23
Posted 08 May 2014 - 09:57 PM
#24
Posted 08 May 2014 - 09:51 PM
In my opinion the technicals of NPN does not matter as much. If/when the HS on Tencent break, the fall will be closer to the R750 level.
A lot of technology funds will chase Alibaba in weeks to come. They announced their IPO in this week. Money will rotate in the tech sector from mail.ru/twitter/Tencent to Alibaba. Big funds are nervous about the tech sector and does not want to commit new capital in the sector. As always, my 2c.
#25
Posted 08 May 2014 - 07:13 PM
Naspers, there was a late afternoon recovery in Hong Kong on Tencent (our early morning), so the heat was off so to speak.
NPN is still trading in a down channel of course, but at the top off the band, maybe finding a new support level from rising bottoms on chart.
People who think they know everything are a great annoyance to those of us who do. (Isaac Asimov)
#26
Posted 08 May 2014 - 06:25 PM
#27
Posted 08 May 2014 - 05:09 PM
#28
Posted 08 May 2014 - 04:38 PM
And suddenly Naspers goes up late afternoon. Anyone know why? American markets?
#29
Posted 08 May 2014 - 08:55 AM
I agree, but disagree on the amount of drop, the support is @ +-90000, technically (as a layman) that is where I see it going to in the next couple of weeks, it shall probably drag along most of the market for a downward correction, much as it dragged the market up.
100%. The 95000 figure I gave is what I predict the price will be in a week. It should then rally a slight amount before dropping further, probably down to 90000. The markets are about to open, so let's see if we've predicted it right.
#30
Posted 07 May 2014 - 10:47 PM
On the technical side I agree. The price is sitting on the upper side of a falling wedge, looking to drop. I see the price falling to 95000 in the next 7 days.
The price is bound to turn around at some point but the wedge isn't sharp enough for it to be any time soon I think. It's still fundamentally a great company, but with a PE of 55, it's just too expensive. I'm concerned that Naspers' recent drop could be a hint of an impending correction.
I agree, but disagree on the amount of drop, the support is @ +-90000, technically (as a layman) that is where I see it going to in the next couple of weeks, it shall probably drag along most of the market for a downward correction, much as it dragged the market up.
People who think they know everything are a great annoyance to those of us who do. (Isaac Asimov)
#31
Posted 07 May 2014 - 10:21 PM
I propose to short NPN today, present trade of Tencent on New York bourse -4.96%, plus -3.82% from Hong Kong last night.
Let's see what Hong Kong does tonight.
On the technical side I agree. The price is sitting on the upper side of a falling wedge, looking to drop. I see the price falling to 95000 in the next 7 days.
The price is bound to turn around at some point but the wedge isn't sharp enough for it to be any time soon I think. It's still fundamentally a great company, but with a PE of 55, it's just too expensive. I'm concerned that Naspers' recent drop could be a hint of an impending correction.
#32
Posted 07 May 2014 - 09:29 PM
I propose to short NPN today, present trade of Tencent on New York bourse -4.96%, plus -3.82% from Hong Kong last night.
Let's see what Hong Kong does tonight.
People who think they know everything are a great annoyance to those of us who do. (Isaac Asimov)
#33
Posted 02 May 2014 - 01:42 PM
Worked out quite nicely
AGREED
#34
Posted 02 May 2014 - 01:27 PM
Whoever went long on NPN today was not wise, this is an easy share to call as you merely go online and check the Hong Kong close of Tencent in the morning (they trade while we sleep).
Tencent dropped over 5% this morning, so Naspers follows suit.
Worked out quite nicely
#35
Posted 02 May 2014 - 11:48 AM
Roughly R33 up at the moment. About 3%. Anyone think we will see an uptrend from here?
#36
Posted 02 May 2014 - 07:58 AM
Shaky dead cat bounce up 2.4% which calls for a Long quick in and out of the cold shower
3% and counting @ our 8am
People who think they know everything are a great annoyance to those of us who do. (Isaac Asimov)
#37
Posted 02 May 2014 - 07:33 AM
Shaky dead cat bounce up 2.4% which calls for a Long quick in and out of the cold shower
People who think they know everything are a great annoyance to those of us who do. (Isaac Asimov)
#38
Posted 02 May 2014 - 07:19 AM
#39
Posted 02 May 2014 - 07:15 AM
#40
Posted 02 May 2014 - 07:03 AM
Tencent up 2% in Hong Kong
Edited by Zulu, 02 May 2014 - 07:04 AM.
People who think they know everything are a great annoyance to those of us who do. (Isaac Asimov)