Yesterday, the share price of Shoprite looks to be forming a bullish harami candlestick reversal pattern at the support level of the upward channel. The candlestick reversal would be confirmed if today’s candle closed in positive territory and above the mid-point of the previous candle. In this scenario, it suggests the end of the short-term pullback and continuation of the longer-term trend. The 14100 area would be the upside resistance target from the reversal, while a close below the low at 13045 would consider the failure of the bullish assumptions. www.ig.com/za/technical-tuesday
Order cancelled:
buy trade did not trigger, bullish assumptions have failed