JSE:NPN Naspers Markdown in Phase D Distribution

Following the weakness in Naspers - see posts below - since December we are now being marked down in Phase D as defined by the Wyckoff distribution range. We have seen a couple of tests of the highs that have failed and we are likely seeing a transfer of stock from strong to weak hands. We are now anticipating a break of the upsloping distribution range. Distributions can often be quite dramatic so watch for some sudden moves. Manage your risk.