RossLarter

Bearish Engulfing at Resistance

Short
JSE:SHP   SHOPRITE HOLDINGS LTD
A Bearish engulfing candle formed on SHP on 17 Feb. This was followed by a cross of the EMA's and the MACD. All of these indicate a change of momentum and we could be seeing a move to the downside. There is a gap that formed in September last year that we ight be looking to fill, failing that, it might find some support at the top of the gap.

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