Real-Time: 10h38
Ticker: SHP
The +31400c level was 'penciled in' as a level to monitor for an entry on the short/sell side. This is where sellers stepped in, from which have seen a sell-off down to 29542c at today's low (thus far).
The group's earnings release has acted as a catalyst for the selling pressure. My original view is shown below:
Previous Post: 01 August
Title: Overbought Near Key Inflection Points
Real-Time: 10h38
Shoprite Holdings (SHP)
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Technology + Proprietary Insights has helped to develop automated tools and strategies that are used to identify potential trading opportunities as well as highlight potentially significant technical developments across various time frames. This page highlights readings from our Tactical Trading Guide (Price Action Tool) which is also available as a live tool via the telegram group. The tool provides automated price analysis for any tradeable instrument across 3 time frames: short (short term), medium (medium term) and long (long term). Readings are subject to change, based on the development of the subsequent price action.
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Whether the reward-to-risk is attractive for a buy/long position
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Whether a trader can look to buy a pullback into a key moving average (continuation trade)
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