The price of Naspers has broken out of a falling wedge formation (marked with red trend lines).
In the current context the wedge formation alludes to a cumbersome move down after a strong move up, suggesting that the momentum remains to the upside. The price continues to trade above the 200 day simple moving average (200MA) indicating that the long-term trend remains up.
The stochastic is moving out of oversold territory which is bullish, supporting the price action and in line with the long-term trend. Gap resistance between levels R1225 and R1275 provides the favoured initial resistance targets, which if broken favours further gains to the all-time high at R1350.
The price closing back into the wedge below support at R1130 would deem the bullish expectations to have failed.