Head and Shoulders on Pepkor with strong downside to R16.38

Head and Shoulders formed on Pepkor a few days ago.
The price broke below the neckline accompanying with other bearish signals.
200 >21>7 MA- Bearish
RSI<50 - Bearish divergence with lower highs
Target R16.38

ABOUT THE COMPANY

Pepkor was founded in 1965 by Renier van Rooyen and his wife, Elsie.

The company started as a small clothing store in Cape Town, South Africa, and has since expanded to become a major retail conglomerate.

Pepkor operates various retail brands, including Pep Stores, Ackermans, Shoe City, John Craig, Dunns, and Tekkie Town.

Pep Stores is the largest retail brand in the Pepkor group, with over 2,200 stores across Africa.

Ackermans is another major retail brand in the Pepkor group, specializing in clothing and homeware.

Shoe City is a shoe retailer with stores across South Africa.
John Craig is a menswear retailer with stores in South Africa and Namibia.
Dunns is a clothing and homeware retailer with stores across South Africa.
Tekkie Town is a footwear retailer with stores across South Africa.