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Pick and Pay's Market Outlook: From Descending Triangle to Beari

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PICK N PAY STORES LTD (JSE:PIK)  
Sahle  
JSE:PIK   PICK N PAY STORES LTD
Trend Analysis Chart Patterns Technical Indicators
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Pick and pay
Pick and Pay's Market Outlook: From Descending Triangle to Bearish Sentiment
1. Price Formation: The price has broken from a descending triangle (An inverse Cup and Handle confirm bearish sentiment) price formation on a daily chart.
2. Moving Averages: The 7-day moving average (MA) is below the 21-day MA, which is a positive sign indicating short-term bearish momentum.
3. 200-day Moving Average is above the Price.
4. Thus, Mas 7<21<200
5. Relative Strength Index (RSI): The RSI is <than 50, indicating bearish momentum and potential further upward movement.
6. Price Target: 2150 Zcents

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