SPAR - Looking for a Breakout 🆙

Price is flagging below the 20 day moving average and may breakout is possible with a successful break of R105.

Another alternative is the pattern (symmetrical triangle) first breaks to the downside to create a bigger double bottom before finding enough buyers to go test R118-120 again.

In trading, a symmetrical triangle is a chart pattern formed by connecting lower highs and higher lows with converging trendlines. It signifies a period of indecision and balance in the market. Traders wait for a confirmed breakout with increased volume to take action. The breakout can be bullish or bearish, and the measured move technique helps estimate potential price targets.