TRU

Sell at current levels or higher. Can it trade slightly higher? Yes. Can it build a short term consolidation top for a few more sessions? Yes. The following factors, however, may favor traders looking to enter a short/sell trade (1) The share has appreciated by 19.8% off it's recent lows (19 October). (2) At current levels, using multiple metrics, the share is in an overbought range (including trading 30% above it's 200-day moving average and 60% above it's 200-week moving average). (3) Despite being in an overbought range, it can trade higher, however the reward-to-risk is unappealing and does not favour buyers. (4) Candle Structure: The bullish bars have been developed near the tail end of an upside move. What matters for those looking to sell is the follow-up candle, which can be as follows: a 'doji' which signals indecision, a 'long upper tail' which may signal exhaustion, a 'dark cloud cover' which may also signal exhaustion. (5) The printing of the aforementioned candles would suggest that the share due a pause/consolidation or minor pullback. As always, traders could consider the following if/when the share approaches the target: bank/take Profit, partially scale out, adjust the stop-loss to protect profits Time Stop: 06 February 2023

Entry: 8189c
Target: 7420c
Stop-loss: 8590c