W Formation clearly formed on the daily.
We had a false breakout to the upside, but then price went right back into the W.
7>21 Price<200
RSI>50
Target R2.95
WARNING
There are three problems.
1. The JSE ALSI 40 is still within the downside of the symmetrical triangle as it had a fald breakout. This has sent shorting vibes.
2. The penny stock is highly...
After a horrific crash from R4.22 down to R1.73.
There seems to be a consolidation range at the moment forming the next Head and Shoulders.
The right shoulder is not fully ripe yet, so we can expect a blip of upside to form the RS.
Once the price breaks below, then we'll see the next leg down.
Indicators are confirming downside to come inc.
200>21>7 -...
