TFGP trade ideas
Bullish Divergence on TFGJSE:TFG
A bullish divergence on TFG group with the price making lower lows but the stochastic oscillator making higher lows.
Plus the the MACD cross-over. If the share breaks though the 7666 high on the Daily chart. I am interested in longing the stock, to close the gap at the 10200 levels.
FOSCHINI - LONG Idea- Price has broken resistance on above average volume.
- I would be hestiant to chase the momentum just yet but look for any weakness towards the resistance (now turned support) around R71
- Targets could be the top of the falling wedge around R88 with the aim to trail a position further up
-- MANAGE YOUR RISK - -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
TFGTFG, Current: 6915c
Long term, the lower boundary of the channel at 4700c remains a focus area.
In the short term, the technical structure sees a shift/trend reversal:
1. Break of trend line going back to the 5 March peak
2. Break of trend line going back to the 14 April peak
Provisional Levels: Looking for a close above 7035c to trigger a move to 7740c. Stop: 6620c.
Double bottom?Its seems someone doesn't want price crossing that yellow zone. Its been defended several times and we are seeing rejection on the daily making a double bottom also showing on the weekly. We take this trade and target the weekly tenkan area which is the blue zone but we put our target slightly below the 16000 round figure price magnet.
Entry: 1 small position @ 14 747
SL: 14 239
TP: 15 950
NB: Risk management is crucial!
