TRU

Short to medium term trading opportunity with a higher-than-average risk. While high bullish momentum has been in place, certain factors point to the share trading in an overbought range i.e. (1) the share is 25% above it's 200-day moving average (2) relative to the Top 40 Index, the share is trading at 34% above it's 40-week moving average (3) The 7 and 14-week RSI's trade in a high bullish momentum/approaching overbought range (4) the incline support extending back to the 30 May low is steep and at risk of being breached (5) bearish divergence exists on both the MACD and 14-Day RSI. Should the price approach the intended target, the following applies: (1) Bank/Take Profit, (2) Adjust the stop-loss closer to the target, (3) Scale out of the position as it approaches the target. Time stop: 19 December 2023

TRADING LEVELS:
Entry: 7647
Target: 7011
Stop-loss: 8127