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Timonrosso
May 12, 2023 10:29 AM

Vodacom Boring range broken down - Target to R75.27 Short

VODACOM GROUP LTDJSE

Description

Box formation formed over the last 9 months.
It was a boring range and we were waiting for a breakdown.
Which we now have and the direction chosen is DOWN.
200>21>7 - Bearish
RSI<30 - Bearish
Target R75.27

SMC - Buy Side Liquidity Order block formed above the Box Formation.

This is where Smart money has swept buying from dumb retail traders and have sold into it, causing strong downside.
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