Reversal Diamond Formation formed on the daily.
This is a broadening reversal pattern that forms in the shape of a Diamond.
Because the previous trend was up, the Diamond moved sideways and then the price broke down, shows the likelihood of it dropping is bigger.
200>21>7 _ Bearish
RSI <30 - Bearish
Target R2.25
ABOUT
KAP Industrial Holdings Limited (KAP) (Founded in 2004) is a diversified industrial conglomerate headquartered in Cape Town, South Africa.
It's one of the largest industrial groups in the country which also operates in a range of industries, including logistics, automotive components, timber, chemicals, and more.
Some of the company's well-known brands include Safripol, PG
In 2020, KAP employed over 20,000 people across its various businesses and operations.
This is a broadening reversal pattern that forms in the shape of a Diamond.
Because the previous trend was up, the Diamond moved sideways and then the price broke down, shows the likelihood of it dropping is bigger.
200>21>7 _ Bearish
RSI <30 - Bearish
Target R2.25
ABOUT
KAP Industrial Holdings Limited (KAP) (Founded in 2004) is a diversified industrial conglomerate headquartered in Cape Town, South Africa.
It's one of the largest industrial groups in the country which also operates in a range of industries, including logistics, automotive components, timber, chemicals, and more.
Some of the company's well-known brands include Safripol, PG
In 2020, KAP employed over 20,000 people across its various businesses and operations.
✅ Facebook:
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
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.
✅ Facebook:
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
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.