Truworths has been trading in a wide range, gentle slope downward channel since hitting a peak of R68,09 in August 21. Price has just broken out of the upper trendline on high volume, 5.63 million shares compared to the 1.48 million 20 day average. The MACD also looks to gathering momentum above the zero line. Volume and MACD are just additional factors that add...
Update: TRU - Bank/Take Profit - Original Idea Attached. Out with a Business Update. At current levels, the buy/long idea is higher by 7,5% (ungeared). Traders should consider raising their stops to protect capital. Full target 5673c Suggested entry was 5246c. For more research insights, including trade ideas, get in touch today.
Speculative trading opportunity. Price attempting to clear medium term downward trend line as well as it's near-term moving averages. In addition, the company has recently started repurchasing it's own shares which may underpin the share price. Preferred at current levels or lower. TRADING LEVELS: Entry: 5246 Target: 5673 Stop-loss: 5069 For more research,...
Markets are experiencing a relief rally off oversold levels and i expect it to continue possibly for the next few days. TP / SL on the chart.
The stock is in just commenced with wave 5 of (5). I anticipate a further rally to R80 region. The current rally comss after a 335 expanded flat correction at wave (4).
Stop loss: R56.69 Take profit: R50.33 Risk/Reward: 2 *No.1 Manage your Risk*
A price action above 5100 supports a bullish trend direction. Crossing below this level will negate the analysis. Further bullish trend support when the price action remains above 5300. Consolidation between 5200 and 5400. Crossing above 5400 might target 5800. Crossing below 5200 will be the first sign of weakness in the price action.
I published the name as a buy/long in January at ~5200c. It went to +6500c. Current setup appears similar but willing to change my mind if the price action/structure changes or deteriorates. Note: there's also a downside gap at 5113c which may be filled before clearing the downward trend line.
A price action above 5750 supports a bullish trend direction. Crossing below this level will negate the bullish stance. Upside price momentum supports the bullish trend direction. RSI leaves enough room for further upside price potential. MACD crossover confirmed a change in trend direction to bullish.
Truworths mangaged to break above daily resistance of 5660. Needs a daily close above the resistance level. My long targets are 6100 and 6430.
Looks like the time to buy the dip has come. Nice breakout building up bouncing off the 50d EMA and 200 day EMA
Interesting comparison between the major apparel retailers MRP is the leader (longer terms) but is lagging year-to-date ... Note the chart is adjusted for dividends...
Truworths trading in 40 day box consolidation pattern thats is leading up to a possible breakup in the coming few days reward to risk 1.5:1
The move in line with our monthly chart technical view. Truworths sold off sharply today (-12.5%) on the back of their results released after yesterday's market close. The move lower has aligned with our 02-August comment, suggesting that long term holders should consider reducing. Based on the monthly chart, the view took into consideration the prior support...
There is triangle setup that has formed here. Price needs to close above 6700 and a breakout above this level can be bought be bought with ST limit at 7325. As always manage your risk
Broke out, came for a retest, and now the rally continues. Should target 65-70 in the short term.
The stock held the 50d EMA and broke back higher on increased volume
First target (5825)of this bullish flag breakout met Seems that we have a bit of consolidation at current levels Second target 6163 still looming