runyamhere

Clicks (CLS) Potential Downturn

Short
runyamhere Updated   
JSE:CLS   CLICKS GROUP LTD
Clicks is in a bearish trend with price restricted by the resistance line. The expectation is for price to continue trending down & break below the lower support line. At the same time RSI 14 (not shown here) should reach oversold conditions & turn upwards.

If price goes below 26 September low then the major trend becomes bearish. After price makes a swing low and broken the lower trendline long positions can be sold & turned short when price makes a swing high above the current resistance level. The lower blue trendline would come into scope.
Trade closed manually:
RSI close to oversold & price is looking to resume uptrend.

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