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 to mini support.
TRU is approaching a short term resistance point which I think can be shorted for a move back to mini support.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.