$JSETRU trying to get above the downtrend again!Truworths trying to get above the downtrend again!Longby UnknownUnicorn1416836Published 6
$JSETRU - Stopped out Had to close this one out as it has now closed below TL support and wedge pattern failed to play out. Will possibly re-visit if it closes higher in the future. by Trad3r_16Published 4
Truworths Sell shortSelling short - a bit of theme to orders today. It's a rather material day!Shortby serioussam81Published 4
$JSETRU - Possible long playTruworths currently testing TL support and has a small falling wedge. Taking a few longs here. Tight stop loss below R32 however. Longby Trad3r_16Published 8
$JSETRU - Testing TL support once againTruworths failed to breakout out to the upside and has now retraced all the way back to support. Probably a good bet for a long here with a tight stop loss if it closes below. by Trad3r_16Published 5
TRU Trade Levels: - Short at current levels: 3669c - If the share moves against us, a stop-loss of 3790c is suggested - Take profit target: 3340c Shortby LD_PerspectivesPublished 9
$JSETRU - On the verge of a breakoutTruworths currently testing double resistance - but graph making nice rising bottoms. A strong close above 41.50 would be bullish (breaking its downtrend) by Trad3r_16Published 8
TRU 1hr up from supportTruworths hourly chart (currently 30.50) is rangebound between support at R29 (that coincides with the 200 period moving average) and resistance at R35.by UnknownUnicorn3468017Published 9
Risky Clothing RetailersAfter President Ramaphosa announced on Thursday (23 April) that South Africa will be changing its lockdown status from level 5 to level 4, it was the clothing retailers that was hit the hardest. Main reason for this was because the initial draft for Level 4 lockdown did not permit the sale of any clothing yet. This saw most of the clothing retailers having a horrible day on Friday, with Truworths (TRU) being no exception (down 1.8% on the day). Subsequently, the Government however released a statement on Saturday (25 April), saying that the sale of Winter Clothing and Bedding, will now be allowed under Level 4. Although The Fochini Group (TFG) was hit the hardest (-7.1% on Friday), I believe from fundamental basis, TRU currently look a bit better. Read our full report on the company, which we released on Friday, here: oldoak.co.za From a technical point of view, TRU is trading back at the levels it traded at post 2008 crash. It is also trading below all four its 8-, 21-, 50- and 200 week Moving Averages (EMA), which very much places TRU still in an extremely negative trend environment. The share price momentum is also still very much in the red. I do however feel that the share price is now oversold and places the company firmly in value territory. Oversold are confirmed by both the 14-week RSI, which currently trade in EMTREME OVERSOLD territory and the FTSE/JSE All Share 1-year, relative indicator. Based on valuations, I went long with my first nibble. At R21, I would buy my second and last tranche. Should we see a recovery this week, with a break and close above the 8-week EMA (R32.65), could see the share price test the bottom of the parallel channel at R34.50 next. A break and close above these levels could be incredibly positive, with next resistance point then being the 21-week EMA (at R39.80). My medium-term target on the company corresponds with our equity reports target of R45/share. Longby SchalkLouwPublished 2211
$JSETRU Truworths Getting close to financial crisis levels Truworths getting close to the lows of the financial crisis 2008-2009. No position.by KoosKanmarPublished 9
#JSETRU - Trend Trade - Downtrend intact - Bearish breakout to the downside , would like to see a close with a bit more volume. - Opportunity to keep riding with the stock down, tight SL above R 51.50 else R55 for a wider stop. - MANAGE YOUR RISK - Disclaimer: All ideas are my opinion and should not be taken as financial advice. by Trader-DanPublished 9
$JSETRU - Triple bottom formed (4hr)$JSETRU bounced on the support for a 3rd consecutive time Looking for a break above 5719 to confirm and TP around 6477 by TiggzzPhiPublished 8
JSETRU - LONG Truworths - Last week ended with a nice bullish candle with volume - Possible double bottom has formed - Aggressive entry will be to go long at current price or wait till price closes above R58.75 on the daily timeframe. - MANAGE YOUR RISK - Disclaimer: All ideas are my opinion and should not be taken as financial advice. Longby Trader-DanUpdated 7
$JSETRU Selling continues... R50.67 hourly target $JSETRU Selling continues... R50.67 hourly target Shortby gillybloreUpdated 7
$JSETRU Hourly close below R55.90 targets R53.35$JSETRU Hourly close below R55.90 targets R53.35Shortby gillybloreUpdated 6
$JSETRU - 3rd failed b/o on C&H formation (Hourly)$JSETRU run has come to halt, following other Retail names in this session. It has now b/o on 3 occasions in the C&H formation but failed in each of the attempt A close above 5625 (Upper trend line) is still +ve and failure could see if retrace back around 5585 before breaching the lower trend line (5441)by TiggzzPhiPublished 4
TRU: most oversold share on a multiple time frame analysisUsing the RSI to calculate overbought/oversold conditions over multiple time frames (daily, weekly, monthly) Longby Peet_SerfonteinPublished 5
A triangle Breakout After a breakout, a doji candle has appeared. So, we know what it means. Shortby AnarUnUpdated 2
JSE:TRU Truworths Breaking Below Trading RangeTruworths 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.Shortby SteynTradePublished 3
$JSETRU Break on the hourly targets R59$JSETRU Break on the hourly targets R59Shortby gillybloreUpdated 5
TRU - Last Line of SupportWe 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.Longby zeerotraderPublished 4