Shoprite showing something unusual - Target R189.75

2023年2月12日

W Formation has formed on Shoprite.
The strangest thing is that the 200MA is actually the Neckline of the pattern.
so if the price breaks below the 200MA, all Heck is going to break loose.
There are other bearish signs like
21>7>200 RSI<50
Bearish bias
My first target is R189.75.

CONCERNS:
We haven't had a break of structure yet. This means, the position will remain neutral until it does.