Peet_Serfontein

TFG: low probability setup that might progress into a high

Long
JSE:TFG   THE FOSCHINI GROUP LIMITED
Price action is close to the lower range of the linear regression channel, which increases the likelihood of a mean reversion trade back to its mean.
A price action above 11599 supports a bullish trend direction.
RSI of 45 leaves enough room for further upside price potential.
Keep an eye on an expected earnings announcement.