SteynTrade

JSE:TRU Truworths Mark-up?

Long
JSE:TRU   TRUWORTHS INT LTD
Truworths has been marking down from a previous trading range at about R75. We are now seeing some accumulation that could be the start of a back-up back to that trading range. We have seen signs of strength throughout this accumulation. After the selling climax, we saw signs of strength (SOS) taking price above the automatic rally (AR) and then being unable to properly break back into the trading range. Now after another SOS we have had a back-up to a last point of support ( LPS ) and what looks like the start of the mark-up into the new year.