Shoprite: Expect a pull-back

Shoprite is starting to look like it's run out of Steam. We can clearly see the previous two days candle sticks show that intra-day rallies are getting sold. So we have a long upper tail (failed high) followed by a "Doji" candle. This could signal a short term trend change. From these over-bought levels, I wouldn't be surprised to see a pull-back to the 200 day moving average. I think the short trade can be put on here for a target of between R225.00 and R230.00.