Innocentmaponde
Short

Bearish engulfing candle on the BidCorp Weekly

JSE:BID   BID CORPORATION LTD
I was unfortunate to be stopped out of this BID short trade last week after that spike to the R329 level.
Price has since come off from those levels to current levels below R310.
Looking at the broader weekly chart, last week’s candle is a bearish engulfing one, which suggest to me that more down might be coming in the coming weeks.
R290 or below remains on the cards.
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