Breakouts: 31 May 2023
Charts on the JSE are painting a grim picture...many negative breakouts few positive.
![Breakouts: 31 May 2023](/content/images/size/w1200/2023/05/EQU.ZA.FSR.png)
JSE:FSR (First Rand)
![](https://stockpicks.co.za/content/images/2023/05/Screen-Shot-2023-05-31-at-08.03.21.png)
Negative break. Descending triangle break. Trending down. Next stop 5731.
JSE:WHL (Woolies)
![](https://stockpicks.co.za/content/images/2023/05/Screen-Shot-2023-05-31-at-08.06.03.png)
Negative break from a head and shoulders pattern. Recent death cross. Lots of evidence pointing to more negative price movements.
JSE:SHP (Shoprite)
![](https://stockpicks.co.za/content/images/2023/05/Screen-Shot-2023-05-31-at-08.08.41.png)
Negative break from a big top pattern.
JSE:BAT (Brait)
![](https://stockpicks.co.za/content/images/2023/05/Screen-Shot-2023-05-31-at-08.11.32.png)
Negative break. Trending down.
JSE:CLS (Clicks)
![](https://stockpicks.co.za/content/images/2023/05/Screen-Shot-2023-05-31-at-08.12.58.png)
Negative break. Both moving averages pointing down. Series of lower highs and lower lows. Next stop 21900.
JSE:AVI (AVI)
![](https://stockpicks.co.za/content/images/2023/05/Screen-Shot-2023-05-31-at-08.20.01.png)
Negative break. Trending down.
JSE:PPH (Pepkor)
![](https://stockpicks.co.za/content/images/2023/05/Screen-Shot-2023-05-31-at-08.29.11.png)
Negative break. Continues to trend down.
JSE:NRP (Nepi Rockcastle)
![](https://stockpicks.co.za/content/images/2023/05/Screen-Shot-2023-05-31-at-08.25.37.png)
Positive break. Trending up.
US:SE (Sea Limited)
![](https://stockpicks.co.za/content/images/2023/05/Screen-Shot-2023-05-31-at-08.00.43.png)
Negative break. Lower low. Next stop $41.
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