Woolies showing a sell signal with an interesting observation

M Formation formed on Woolies,
The price broke below and all systems go with the Bearish Engulfing candle.
21>7
Price >200
Target R64.00
interesting that the target is to the 200 MA. This means, the price has rallied at such a high inclination, that the price now wants to approach equilibrium
It's all we need for a trade.

ABOUT

Woolworths South Africa is a subsidiary of Woolworths Holdings Limited, a South African retail company founded in 1931.

Woolworths South Africa operates in the food, clothing, and general merchandise retail sectors.

Woolworths South Africa is known for its high-quality food products, including fresh produce, organic products, and artisanal bread.

Woolworths South Africa has a loyalty program called MySchool MyVillage MyPlanet, which allows customers to support local schools and charities by shopping at Woolworths.

ABOUT DAVID JONES
In 2014, Woolworths South Africa acquired David Jones Limited for AUD 2.1 billion, with the aim of expanding its presence in the Australian retail market. The acquisition was seen as a strategic move for Woolworths South Africa, as it provided a platform for the company to expand its retail operations beyond South Africa and into the Asia-Pacific region.

Since acquiring David Jones Limited, Woolworths South Africa has invested heavily in the brand, renovating stores, expanding product lines, and improving customer service. However, the acquisition has not been without its challenges, as the Australian retail market has been highly competitive and consumer spending has been affected by economic factors such as wage growth and housing prices.

Despite these challenges, Woolworths South Africa remains committed to its investment in David Jones Limited and sees the brand as an important part of its long-term growth strategy.