Timonrosso

Prosus hit our target up at R1,446 now expect downside

Penjualan
JSE:PRX   PROSUS N.V.
Target hit at R1,446 recently from a larger Cup and Handle.
And since then we had the price go up one more day before entering into a strong sideways range.
During this time it formed an Inv Cup and Handle with a few bearish signals.
21>7 - bearish
Price>200 - Bullish
Target R1,1033
RSI<50 Bearish
WARNING
Even though we expect the price to drop, it's only correcting and equilibrating back to the 200MA elastic mean zone.
Once the price reaches here, there'll be a test between the bulls and bears before a chosen direction is established.

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Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
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