THE SPAR GROUP LTDShort
Trade Idea: Spar Group (SPP)
A share's prior breakdown level often becomes a distribution zone once the level is re-test. Spar Group, which has rallied back to this level, is also testing it's downward trend line resistance while the last three sessions, by observation of the candle structure suggests 198/202 becoming a distribution zone. while the volume is starting to decline on this 4-day push higher. This is where I think we are setting up a short/sell for a move back down to 189/188.
Short on print back above R200
SL: R205
TP: R188
Short on print back above R200
SL: R205
TP: R188
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.