KAP Industrial showing strong downside with this rare pattern

Reversal Diamond Formation formed on the daily.
This is a broadening reversal pattern that forms in the shape of a Diamond.
Because the previous trend was up, the Diamond moved sideways and then the price broke down, shows the likelihood of it dropping is bigger.
200>21>7 _ Bearish
RSI <30 - Bearish
Target R2.25

ABOUT

KAP Industrial Holdings Limited (KAP) (Founded in 2004) is a diversified industrial conglomerate headquartered in Cape Town, South Africa.

It's one of the largest industrial groups in the country which also operates in a range of industries, including logistics, automotive components, timber, chemicals, and more.

Some of the company's well-known brands include Safripol, PG

In 2020, KAP employed over 20,000 people across its various businesses and operations.