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
TFG back on my watch-listTFG price has found support at 13300. Price initially pulled back and tested the DEMA200 and has formed a bull flag on the weekly chart. Looking for a close above 13750 to initiate a long position.
Idea on TFGTFG price has found support at 13300. Price initially pulled back and tested the DEMA200 and has formed a bull flag on the weekly chart. Looking for a close above 13750 to initiate a long position.
FOSCHINI Group - Ready to pop- After a period of consolidation the chart has setup for a new leg up
- Stochastics have reset and we seeing signs of volume increasing
-- MANAGE YOUR RISK - -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
JSE:TFG
The Foschini GroupStock is up more than 100% in the past 12 month, which makes a pullback (or further consolidation) very likely; but a break of this bull flag structure says 200!
TFG - Ascending triangle in the makingTFG is forming a base at R150 while making lower highs. A close above R160 triggers the long idea with target at R170 and a stop loss a close below R150
#JSETFG - Foschini- Many of the clothing retailers have run up hard .
- Stochastics overbought with divergence
- Not a bad idea to lock in some profits here and look to buy in again on a pullback towards R126
-- MANAGE YOUR RISK - -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
TFG: low probability setup that might progress into a highPrice action is close to the lower range of the linear regression channel, which increases the likelihood of a mean reversion trade back to its mean.
A price action above 11599 supports a bullish trend direction.
RSI of 45 leaves enough room for further upside price potential.
Keep an eye on an expected earnings announcement.
TFG - Support area at R116TFG showing signs of support at R116 as previous resistance. Below R114 the trade is closed. Target is R124.
FOSCHINI - Trendline - Price has returned to the daily trendline support zone and 50 day moving average
- This is a good area to add to any long position or to initiate a new trade on any intraday pull back
- A daily close below R109 would be viewed as bearish and negate the long bias
-- MANAGE YOUR RISK - -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
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)
TFG - Resistance HeldMonthly Chart: As I highlighted in my research note a few weeks back - watch this downward trend line going back to the March 2018 retail sector peak.
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.
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
TFG done testing the 200 Day EMA next is 200 weekTFG looking like its broke well and showing the 200 day EMA the taillights. The next target after the gap close is the test of the 200 week EMA.
Should be interesting to see over the next couple of months or so.
TFG - Resitance breakA close above R92 will trigger the long idea with stop loss at R88 with 1st target at R92 and full target is the gap fill at R102.
TFG looking bullishTFG looking quite bullish, closing with a bullish engulfing candle and break Through the 200 day EMA. Looking set to close the gap at the R102 levels
TFG Swing play 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.
GOODBYE KISS FROM TFG?TFG HAS AGAIN BROKEN THROUGH THE 40 WEEK MOVING AVERAGE. IS IT GOING TO RUN UP? I THINK SO.
