TRU trade ideas

AnarUn Updated 

After a breakout, a doji candle has appeared. So, we know what it means.

SteynTrade

Truworths is breaking below the distribution trading range (TR) that was started in 2013. We have seen a backup (BU) to the TR and now the markdown is getting going.

gillyblore Updated 

$JSETRU Break on the hourly targets R59

zeerotrader

We may derive the following from the Weekly TRU chart: 1. Price is still declining rapidly. 2. A weekly support and long term low is approaching. 3. Price i.m.o should find a few bids at that level. 4. As always - maintain your risk. Note: The views provided herein do not constitute financial advice.

RossLarter

JSE:TRU has broken through and is busy confirming a downward move with today's price action. We could be looking at a nice downward move it continues downward today.

Innocentmaponde

Bullish consolidation on the TRU hourly chart? Only time (and of course the ZAR) will tell!

Zabbs

Looking at this chart it looks like bottomed Trading back into the value area a break above the resistance and i reckon we run to the top of the VA

Innocentmaponde

Truworths ‘invalidating’ the bearish rising wedge pattern which had formed,by breaking to the upper side of the wedge pattern. Just above the wedge pattern, we have horizontal resistance just below the R78 mark, and we look set to close above that resistance level. Rand is still weak, most SA inc. stocks pulling back today, but Truworths seem resilient...

RossLarter

JSE:TRU formed a bullish engulfing candle pattern on Friday which is a strong reversal signal. We can expect it to go upwards from here.

Innocentmaponde

I'm monitoring for a break lower, on that bear flag on the TRU daily chart.

Innocentmaponde

Yesterday we closed below the incline support going back to November 2016. 50 and 200 day moving averages pointing down. I'm monitoring for a 'Short' around R73/R74; provided the broken support can act as resistance 1st.

TheGreatestMarketAnalyst

Currently on the demand zone, look for buy entry on smaller timeframes

ALSITRADER

JSE:TRU Making cup and handle. Solid break above 9100 will open 10400 as target.

RossLarter

JSE:TRU has formed a Bearish Engulfing causing a double top to be formed as well. If this trades lower on Monday, I will enter a short position.

RobbyP

I will tell you off the bat that I am bearish on the whole retail sector and already have a short on Shoprite (SHP). Looking at Truworths now, it looks like the rally is fading with the price now heavily over-bought and some negative divergence creeping in on the RSI. TRU is approaching a short term resistance point which I think can be shorted for a move back...