TIMBER! For Sappi to R20.00 due to Short Formed M

Short Formed M Formation is evident.

This is a normal Double Top but the second one has a lower high than the previous.

This indicates even stronger selling pressure for the company.

With it broken below the neckline, the next price level it can go to is at least R20.000

Other indicators confirm:
21>7 (Bearish)
Price<200 - Bearish
RSI<50 (Lower highs)
Target R20.00

ABOUT THE COMPANY

Sappi Limited, originally known as South African Pulp and Paper Industries, is a multinational company specializing in wood pulp, paper, and paper-related products.

Inception:
Sappi was founded in 1936 and started operations as a pulp and paper company.

Headquarters:
The company is headquartered in Johannesburg, South Africa.

Global Presence:
Sappi operates manufacturing operations across three continents: North America, Europe, and Southern Africa.

Stock Listing:
The company is listed on the Johannesburg Stock Exchange, with secondary listings on the New York and London stock exchanges.

Primary Business:
Sappi is one of the world's largest manufacturers of dissolving wood pulp, a material used in a wide variety of products, including textiles, and packaging materials.

Paper Production:
The company is a leading global producer of printing and writing papers.

Product Range:
Beyond pulp and paper, Sappi also produces packaging and specialty papers, casting and release papers, and biomaterials.

Employment:
Sappi employs over 12,000 people globally.