Rising wedge on Famous brands continues bearish sentiment
Updated
A bearish sentiment continues on Famous brands with the a rising wedge pattern developing on a daily price chart. Price has broken down and if it closes below and it will probable that it will go down all the way to a first target of R55.
Moving Averages 7<21<200
RSI <50
Moving Averages 7<21<200
RSI <50
Trade closed: stop reached
it hit an adjusted stop loss but i was under the impression that it will further move down as per the price action that was developing. however, it is turned to the upside rather.
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