$JSEGRT - Growthpoint Prop: Bearish Triangle Breakdown
The last update on Growthpoint was on 27.11.2022 and price has respected the triangle rules.
Price pushed a little further up from the day of the analysis but remained below 1610.
From March 2020, the sideways move is best labelled as a contracting triangle for wave 4 and price is now pushing down to complete wave 5 of (C).
The large structure from May 2013 is an expanded flat. In expanded flats, wave (B) of the 3-3-5 pattern terminates beyond the starting level of wave (A), and wave (C) ends more substantially beyond the ending level of wave (A).
Short the rallies below 1509.
Price pushed a little further up from the day of the analysis but remained below 1610.
From March 2020, the sideways move is best labelled as a contracting triangle for wave 4 and price is now pushing down to complete wave 5 of (C).
The large structure from May 2013 is an expanded flat. In expanded flats, wave (B) of the 3-3-5 pattern terminates beyond the starting level of wave (A), and wave (C) ends more substantially beyond the ending level of wave (A).
Short the rallies below 1509.
