Santova M Formation waiting to break down - R7.35

M Formation is forming on Santova.

This is a consolidation pattern that took place after strong upside.

Now the price could turn up and form a Box formation, where it can break to the upside.

But as we say, we can only act on what we see.

We absolutely need the price to break below the neck line of the pattern.

21>7 - Bearish
Price>200 - Elastic
Target R7.35

WARNING this is an illiquid, volatile and low volume traded market. So the trades are LPT due to the nature that trades can stop out. AND very few brokers (if any) provide Shorts with it.

Let me know.

ABOUT THE COMPANY

Santova Limited is a South African-based company that provides a wide range of supply chain management services to businesses around the world.

Founding:
Santova Logistics, previously known as Spectrum Shipping, was founded in 1998.

Headquarters:
The company is headquartered in Durban, South Africa.

Global Operations:
As a global logistics solutions provider, Santova has offices in South Africa, Asia, Australia, Europe, Mauritius, and the United Kingdom.

Services:
Santova provides a wide range of services, including international freight forwarding, supply chain management, import/export solutions, warehousing, and distribution.

Public Listing:
Santova has been listed on the Johannesburg Stock Exchange (JSE) since February 2006.

Specialisation:
The company specialises in integrating and simplifying complex international supply chain functions through advanced information technology.

Strategic Acquisitions:
Over the years, Santova has grown organically and through strategic acquisitions to enhance its global footprint and service offering.

Client-Centric Approach:
Santova's business model is highly client-centric, offering bespoke logistics solutions tailored to the unique needs of each client.

Technology:
The company heavily invests in technology and innovation to improve efficiency and service levels.