Growthpoint wants to come down but this 1 thing is stopping it

H&S formed on Growthpoint.
The price broke below the neckline.
But the price still has one major barrier to attack.
the 200MA... As soon as price breaks below, the trade will be more likely to work out.
Right now the price is retesting the neckline giving a potential conservative entry point for shorters.
21>7 - Bearish
Price> 200 - Bullish
RSI<50 - Bearish
Target R11.88
Low probability trade

ABOUT THE COMPANY

Growthpoint Properties Limited (Est. 1987m headquartered in Sandton JHB) is the largest South African primary listed Real Estate Investment Trust (REIT).

Growthpoint has a diversified portfolio of properties, including office, retail, industrial, and residential properties, with a total value of over R150 billion.

Some buildings that Growthpoint owns that you might know are:

• Sandton City Office Tower - a 32-story office tower located in Sandton, Johannesburg, South Africa.
  
  Cape Town International Convention Centre - a world-class convention centre located in Cape Town, South Africa.
  
  Alice Lane Towers - a multi-award-winning office complex located in Sandton, Johannesburg, South Africa.
  
  Canal Walk Shopping Centre - one of the largest shopping centres in Africa located in Cape Town, South Africa.
  
  Victoria & Alfred Waterfront - a mixed-use development in Cape Town, South Africa, consisting of commercial, residential, and retail spaces.
  

Growthpoint has a presence in South Africa, Australia, and the UK, with a combined property portfolio of over 500 properties.