ASX - TRS - SRF of the 5.93 level is very positiveASX - TRS - The Reject Shop. TRS smashed through my 5.76 target. It has now Support Resistance Flipped the 5.93 level which increases my conviction. STO has bottomed out and will turn up shortly. Volume was decreasing on the bull flag. RSI shows that selling strength was weak on the bull flag. We finished with a nice pin bar and and an engulfing candle. Classic bull flag.
New target 1 = 6.49. Target 2 = 6.99.
TRS
Reject Shop (ASX:TRS) Nice rounding bottom..Closely watching
ASX:TRS
Stock forming good multi-year rounding bottom.
Attempting to break 2018 high after over 500 trading session( hope this time go past)
Volume supported the move, strong hands are getting into stock.
Bennelong Australian Equity partners have increased their holding up 10% purchased from market.
Accumulating at different levels, waiting of the breakout :)
Only negative - COVID situation how it pans out in next couple of months.
newswire.iguana2.com
Time to take profit in The Reject Shop $TRSOn 20 January 2020, I posted about $TRS could possibly go higher from $3.95. We are at $4.70 right now.
The risk is greater than reward for holding this stock.
Thus, I would sell because TD Sequential is showing a 9 and price is due for a pull back move to the moving averages.
$TRS 100%+ gain since Dec while Australian retail in a recessionBroke out of the triangle on last Friday with a 9%+. So how much more upside is there for The Reject Shop? While Australian retailers suppose to be in a recession according to multiple sources over the last year. If we fall below $3.60 it is likely to be over. Over the yellow line and we could see another breakout to the upside...
Worth watching this week.
