VillageTraderZA

Mediclinic False break?

Short
JSE:MEI   None
We had a false break last week on the rally of the vaccine news, coupled with a bearish engulfing candle. I’ve been bearish on share. Will be monitoring the share if it trades back into the 5360c -6600c range. Waiting for a break and close below 5124c to take a short position in. Using the height of the head, of the head & shoulders pattern which started to form back in 2019. The minimum target is the 4135c (using the height of the range) We’ll see how far the legs of the vaccine news run.

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