Rising wedge on Famous brands continues bearish sentiment

A bearish sentiment continues on Famous brands with the a rising wedge pattern developing on a daily price chart. Price has broken down and if it closes below and it will probable that it will go down all the way to a first target of R55.

Moving Averages 7<21<200

RSI <50

Trade closed: stop reached:

it hit an adjusted stop loss but i was under the impression that it will further move down as per the price action that was developing. however, it is turned to the upside rather.