REVERSAL Idea - Capitec Bank - first down to R2400 then up 2900

Broadening Pattern has formed with Capitec.

When this pattern forms it bounces between ranges.

Right now it bounced off the top of the range, and is most likely to come down 50% from the most recent rally.

Once it comes down to a target of R2,400 then it could consolidate move sideways and then breakup to the next target at R2,900.

This is a little different from breakout trading, but I was asked for an analysis around this.