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THE FOSCHINI GROUP LIMITEDTHE FOSCHINI GROUP LIMITEDTHE FOSCHINI GROUP LIMITED

THE FOSCHINI GROUP LIMITED

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TFG trade ideas

TFGA name we discussed on the trading desk on Thursday at 12794c. Current Level: 12987c - The share has been back-testing the 200-day SMA for the first time it cleared this level a year ago. - The 50-day EMA was lost on 27 August and since then, every back-test has been sold. - 50-EMA now ~13835c, which could act as a target zone should the 200-day SMA hold. Alternatively, a move around the 13500c-13600c zone. - Price currently also back-testing 28 May breakout zone. - Strong bids on the tape required. - Stop: 12670c *Know Your Time Frame
JSE:TFGLong
by LD_Perspectives
1
Foschini Group can still JET- (TFG)TFG currently trading in over-sold territory but there are two interesting points here. The 50 day moving average has acted as strong support for the price for some time now so that suggests a good entry zone to buy. Secondly, this happens to coincide with the newly established trend. You can look to buy on this trend line with a protective stop loss set below that trend. potential first target R123.80 (possibly much higher, but we don't get greedy here)
JSE:TFGLong
by RobbyP
TFG 1D - HOLD ON TO YOUR KNICKERSThe Foschini Group has been one of the better performing stocks of late. It has however broken the upward wedge trend downward and ATR giving a sell signal. Stochastis still have a lot of space downward. Currently still in a sideways channel, and when broken to the downside i will enter trade. Fundamentally i can not explain this action other than a result of a looming economic crisis with no light at the end of the tunnel. By the end of the year those knickers might be in need of a change altogether.
JSE:TFGShort
by AWPEARCE1
TFG - Trade IdeaSince it's swing low on 10 July, TFG has been one of the strongest name within the SA Inc group, surging from a low of 52.81 to it's recent highs of 107.06. Was the move justified? It may have been, as market participants gave management it's due for navigating the 2020 crisis and while also producing results that was better than the market had expected. Although we have seen the stock trade at it's best levels since March, the weakness in the Rand over the last 2 days has started to out some pressure on local stocks. TFG , which operates in the discretionary retail space, may not be immune to any local economic weakness. For one, SA is in the midst of a hard lock-down until 15 January and not only will there be uncertainty with regards to the arrival of the vaccines, we note some European regions going into hard lock-downs (UK where TFG has operations), while Germany extends the lock-down as it daily death toll mounts. As mentioned, TFG operates in the discretionary retail space which may take a back seat to essential purchases over the short to medium term. Technically, the share has over the last few trading sessions breached two incline support levels, with the candle structure reflective of emerging selling pressure. We also note the 14-day RSI starting to drift below the 50 level while the near term 7-day RSI is further along the realm of weakness as it prints 38 while trending lower. We also note the price starting to lose it's current pivot as well as the 8 and 20-day exponential moving averages. On this basis, we think TFG is poised to roll over, thus traders could look to short/sell with the following levels: Short/Sell TFG at current levels (R99.26) or higher Stop-loss: 105.70 Targets: R93.80, R90.21
JSE:TFGShort
by LD_Perspectives
2