PROSUS showing upside to come to R1661.98 after W Break

19 พ.ค. 2023

W Formation formed after it's been in consolidation for a while now.
The previous trend was up, so the conditions have lined up as a high probability trade.
The price has broken above and looks to be heading up.
7>21>200
RSI >50
Target R1661.98

SMC Sell Side Liquidity Order Block just below the Second leg of the W Formation. This is where Smart Money has been buying the price up.

ABOUT:
Prosus is a global consumer internet group headquartered in the Netherlands, with a primary listing on Euronext Amsterdam and a secondary listing on the JSE.

It was established in 2019 as a spin-off of Naspers, a South African media and technology company.

Prosus is one of the largest technology investors in the world, focusing on sectors such as online classifieds, food delivery, payments and fintech, education technology, and more.

The company has a diverse portfolio of investments in leading technology companies globally, including significant stakes in Tencent Holdings, Delivery Hero, and Mail.ru Group.

Prosus is known for its strong presence in emerging markets, particularly in countries such as India, China, Russia, Brazil, and South Africa.

Its most notable investment is a 31% stake in Tencent, a Chinese multinational conglomerate and one of the world's largest internet companies.

As of its latest annual report in March 2023, Prosus had investments in over 200 companies across more than 90 countries.