Thursday 5 September 2019

JSE, Naspers, NPN (Updated)




Update 10th Sept:  This hourly view zooms the last part of the daily chart (below). It also assigns wave labels, as I presently see them. The most likely expectation on 5th Sept (see below) was the bounce from resistance at [b], which then occurred. Thereby from [B] this is the Primary [C] leg of this correction and it can typically be expected to have similar overall dimensions to those of Primary wave [A]. (shown in the daily chart, below). The retrace of A is 50% on [B].
I will leave it there for now so that we can consider what the world will be doing while Naspers completes this unfolding journey. 



From 5th Sept:  An extension of the retrace high above the April high would be the extent to which this pattern could be feasible.  Far more probable would be the bounce from the falling resistance line.





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