NASPERS LTD -N-
Short

Head and Shoulders, bottom.

The current rise in Naspers, and Prosus, is as a result of the announcement that they are slicing their stake in Tencent to fund Prosus and Naspers share buyback program. This rise seems to be completing what seems to be the formation of head and shoulders pattern. After Naspers share price suffered a hammering due to its exposure to China, the share buyback seems to be a damage control measure.

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