Since the last update, we established Pick N Pay formed this M Formation which we were anticipating a break down.
The break down took place and we were initially hesitant as we expected conservative testing of resistances and demand zones.
But the fundamentals caught up to Pick N Pay, and the price continued its slump.
The company is struggling with the inflated prices, challenging distribution channels and of course Load Shedding having a major effect on the business and the suppliers too.
Unfortunately, we will continue to see downside for the retail giant and I hope it will make a come back in the next few years, as it has served an incredible element to South Africa and the variety of products unlike many places in the world.