Trade TFG and other JSE Shares with Unum Capital.
To get started, email lester@unum.co.za
On Sunday I discussed Foschini (TFG), highlighting how the share traded down by 15% from R172, reaching a level just below R146 on Friday (trading update released). Update: It traded lower to R142.
For traders who prefer continuation trades, the price action model helps to recognize these. TFG is a great example. The time-stamped reading below as at the end of day on 15 January states the following: "The upward trend has turned weaker. Use rebounds into the 21 to 50-EMA as a potential short/sell range"
Well done to traders who are capitalizing on the opportunities at hand.
Previous Post (Sunday 26 January). Trading: The Foschini Group (TFG) Actionable Areas
Previous Post (Sunday 26 January): Trading: TFG
Short sellers (traders position for a move lower) are benefitting from the share price decline.
TFG is down by 15% from R172, reaching a level just below R146 on Friday (trading update released).
If you are short (have been positioned for a price decline), then consider covering some that position).
The bearish move is in line with our view that the bullish momentum for the Consumer Discretionary sector is waning.
Current Model Reading:
Previous Post (07 January): JSE Consumer Discretionary: Relative To The Top 40, Bullish Momentum Is Waning
Note the bearish MACD crossover and histogram which previously warned around a pullback.
Equally-weighted index includes (TFG, MRP, TRU, WHL)
Lester Davids
Analyst: Unum Capital
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