There is an Inv C&H that's formed on the monthly chart with Spar.
It's been coming down since April 2016 where it just couldn't break above R225.00.
Since then we've seen supply (selling) strong than buying.
And now with the price breaking below the Inv C&H, shows downside to come.
I hope I'm wrong with this one and they do something miraculous to pick up the...
Inverse Cup and Handle formed on Spar and price broke below the brim level.
This sparked fear and lead to a ton of selling and supply.
We had other indicators confirm for the downside to come.
200>21>7
RSI<30
And yesterday, the price went down 15% striking right through the target at R103.61.
Smart Money Concepts
Above the handle, formed a Buy Side Liquidity...
Inverse Cup and Handle has formed over the last month for the retail giant.
The price yesterday broke below the Brim level.
This makes it bearish for downside to come.
200>21>7
RSI<30
Target R103.61
SMC -
Above the Handle of the Cup is a Buy Side Liquidity Order Block. This is where Long traders BOUGHT and Short Traders got stopped. Where the BUYING took...
Symmetrical Triangle formed on Sappi, the price broke below the apex and the price chose the bias of down.
We had other indicators showing bearishness such us.
200>21>7 - Bearish
RSI<50- Bearish
Target reached at R40.60
The trend is still down and we will need the next formation to form before we decide what to do next.
I'll keep you updated.
ABOUT
Sappi...
Cup & Handle formed on the Daily chart.
Price is only breaking above the brim level now.
This is good news for the bulls.
Other indicators showing upside.
7>21 >200
RSI>50
Target R171.37
SMC
Sell Side Liquidity Order Block is clear where there is buying from Smart Money.
ABOUT THE COMPANY
The Spar Group was founded in the Netherlands in 1932 and has since...
