Price is consolidating nicely under 9213. A break of this level on higher volume will trigger a long. There is a gap to fill which could be a first target. Golden cross in play too.
Foschini has broken upside of a bull flag formation on the daily chart. Currently trading at 76.50. Targets are R87 (previous high) and then R95 (flag). Some caution - shown here is the hourly chart that just made a death cross (50/200per MA).
Hi Guys
So having a look at FOSCHINI, we may derive the following from the weekly chart:
1. Price is trading in an equidistant channel, where the bears appear to be in control.
2. We may therefore test the weekly uptrend support near the 200 SMA.
3. I am favouring a move to downside but wouldn't rule out the possibility of a break to the upside where we...
There is no magic crystal ball here. Whether you are on the daily timeframe or 4-hour, the stars are aligned baby! The price for this stock is moving in a clear range with the support at 15 760 and the resistance at 17 825. Now we can see a bearish candle start to form at the top, and a second closure of a bearish candle will likely be my trigger for the trade. A...
JSE:TFG has had a lot of downward momentum in the last few days. Looking to catch a bit of the wave with a quick short trade to the long term support level around the 15500 area.
With the petrol price increasing, tax increased this year results on a lot of financial pressure on the south african consumer leaving consumers with a lower disposable income. In time of lower disposable income it is natural in an economic sense that there would be an increase on credit purchases from consumers.
With this being said. I think TFG is best...
