Peet_Serfontein

TRU: broadening top pattern developing?

Long
JSE:TRU   TRUWORTHS INT LTD
A price action above 7300 supports a bullish trend direction.
Increase long exposure for a break above 7500.
The target price is set at 7800 (just below its 23.6% Fibonacci retracement level).
The stop-loss is set at 7000 (its 61.8% Fibonacci retracement level).
A potential broadening top pattern appears to be forming, although it is not yet fully developed. This pattern, characterised by increasing highs and lows, suggests a possible price expansion.

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