Naspers being what they are, oh and by the way, I worked for them for 7 years, seeing that gap I immediately asked myself who is dragging Naspers down. Tencent is the culprit it seems. But that is beside the point. Let's look at the technicals.
I see a possible island reversal. I also see that they jumped right into the support line of a Shooting Star of 17 Jan's. Dem that was beautiful! hehehe. Should have taken a long at that support line. But I guess you can't scalp shares.
I also see that they jumped a hammer of 3 March. Pretty hectic to jump hammers. Who's trying to drive the price down or have they already succeeded? What I expect is for price to go and test the bottom of the 3 March hammer but it would have to push past the top of Friday's hammer first. If you did buy on Friday, be careful.
Up till September last year, all the green candles were a good size, but then suddenly they all became small candles, like someone was throwing on the brakes and the red candles became longer candles! Yes here and there is a longish green candle, but was that just greed pushing up the price? Hmmm that would have created warning signs for me. Small and long candles show eagerness or the lack there of, in a share's direction.
There is something wrong with this share. Why did it gap down so much when it reached the super high? Why not just pullback slowly and go and test a few lower points and then go up?
