$JSEDCP - Disc-Chem Pharmacies: Be Wary Of The Rounding Top
Dischem had a stellar run from the July 2020 all time low of R16,50 to peak at R39,15.
The share price has recently come under pressure and looks likely to retest a previous support at R28,34.
Further analysis of price action shows a potential rounding top formation. This pattern can also evolve into a head & shoulders.
My short-term outlook is to monitor price behavior at the support/neckline level of R28,34.
The share price has recently come under pressure and looks likely to retest a previous support at R28,34.
Further analysis of price action shows a potential rounding top formation. This pattern can also evolve into a head & shoulders.
My short-term outlook is to monitor price behavior at the support/neckline level of R28,34.
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