Inv H&S has formed on TFG. It's not a very attractive one as the left shoulder moved past the neckline. I call these the Quasimodos of trading. Anyway, the large downtrend has broken and the uptrend is on its way. So the signs of buying and demand are high. We have other indicators confirming: 7>21 Price<200 RSI>50 Target 1 will be at R120.00 ABOUT THE...
JSE:TFG is at an area of value, near a key MA and near a resistance level. Based on the MA, JSE:TFG can move past the resistance level, however, the stock is trading ex-dividend on the 19th. There we might see a R1.50 price drop. The stock is interesting nonetheless.
Inv H&S has formed on The Foschini Group. It's potential and there are two scenarios. One the price just rallies with the rest of the JSE Retailers and goes to R120. Or two, it could hit the top of the downtrend, consolidate align and then break up and out of it once there are strong buying troops and demand. Either way, the signs are good for upside since it...
Bullish Scallop formed recently on TFG. This coincides with a breakout to the upside from the continuous downtrend. Now that we have had a break above both, shows momentum is setting itself for more upside. Other indicators confirm upside to come. 7>21 MA Price<200 RSI >50 Target R112.02 SMC Bearish FVG formed (Arrow) this is where two candles prices do not...
Inverse Cup and Handle formed on TFG And the trend has been nothing but down. 200>21>7 - Bearish RSI <50 Target R89.50 So what now? Well with the ongoing banking collapse and the trouble with financials, insurance and retail sectors mean we can expect the downside to continue. I'm going to wait for the next setup before doing anything.
Foschini is testing the area of support again. TFG recently released a robust trading update, with retail turnover growth of about 31%. With Earnings to be released on the 11th of November we could see downward pressure step back and allow for Long trade back to September highs with a Target of R137. Concerns: The Foschini Group lost 99,000 trading hours in...
TFG 50MA not holding and we could see it test R118. Position is short (talking days here).
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.
I will be buying some shorts today, hopefully not red ones... This security is a TA Disaster. There is no support below 5614 level.
Above MVAVG. Strong Bullish flag. The Price is near the 52 weeks High.
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).
TFG may see more down side as the lock down may hit sales and revenue for retailers in the coming months ahead
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...