Shoprite still showing downside despite the bounce

٦ يونيو ٢٠٢٣

Head and Shoulders formed on SHP.
It broke below the neckline and now its been coming down on the downtrend.
We can expect the bounce up, before the downside.
200>21>7 - Bearish
RSI<50
Target R177.11

CONCERNS: The JSE ALSI is setting itself for upside due to the Symmetrical Triangle.
This might cause a disturbance in shorts with retailers but right now the bias remains short.