Peet_Serfontein

SHP: time for a throwback?

Short
JSE:SHP   SHOPRITE HOLDINGS LTD
Below 18800 supports a bearish trend direction.
Remains close to the upper range of the linear regression channel pattern.
Further supported by the price action close to the upper range of the Bollinger Bands.
In overbought territory - confirming an overextended price action to the upside.
Downside price momentum supports the bearish trend.
Upside price momentum also peaked - supporting the bearish trend.


Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.