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Truworths

#PAIRtradeIDEA Long WHL vs. Short TRUWoolworths has reversed off its bottom channel of relative strength vs. Truworths. RSI and MACD relatively depressed and should start to turn up. With the current state of the economy I believe Woollies should be better placed to withstand the economic storm than Truworths which is predominantly more of a 'luxury' clothing retailer. I think Woolies Food component should be the difference here into the next few weeks. In an inflationary and high interest rate environment, people still need to eat, they don't really need new or expensive clothes. On this fundamental basis and because I like the technicals I am looking to put on the trade as follows: Entry - 0.90 to 0.94 Stop loss - 0.84 Target 1 - 1.06, Target 2 - 1.12 If you manage to reach both targets with an average of 1.09 exit, We are looking at roughly 0.19 upside at a 0.90 entry for a risk of 0.06 which makes this a good 3:1 risk reward ratio Happy Trading <3
JSE:WHLLong
by MarcoOlevano
Truworths looking like The Foschini and it's up to R69 (Nice)Inverse Head and Shoulders potentially is formeing on Truworths. Through my experience, this formation might be short as the price action is very strong to the upside. It might skip the entire Right SHoulder and just head right to the target from the getgo. 7>21 Price<200 But price is so close to the level, it can smell it. If it breaks up, it'll be great for upside. RSI>50 Target R69.45 ABOUT THE COMPANY ~ Truworths is a South African-based retail company specializing in fashion apparel, footwear, and accessories. ~The company was founded in 1917 and is headquartered in Cape Town, South Africa. ~ Truworths operates a vast retail network of stores across South Africa and has a presence in several other African countries, including Namibia, Botswana, Zambia, and Eswatini. ~The company's retail brands include Truworths, Truworths Man, Identity, Uzzi, and Earthchild, catering to different customer segments and fashion preferences. ~Truworths focuses on providing trendy and affordable fashion for men, women, and children. HOW IT GOT ITS NAME Truworths got its name from its founders, Isaac Krawitz and his brother, Hillie Krawitz. When the company was established in 1917, they named it "The Alliance Trading Company." However, as the business grew and expanded, they decided to change the name to Truworths in 1933. The new name was chosen to reflect the company's commitment to providing customers with quality products of true worth or value.
JSE:TRULong
by Timonrosso
Truworths settings itself for great upside to R69.45Inverse Head and Shoulders has formed with Truworths. This is definitely not ripe for the picking if we're waiting for this formation to form. It might even form into something completely different. But here is my take on it. The signs are slowly becoming bullish and things are looking good. 7>21 Price<200 RSI>50 Target R69.45 The rand though however needs to find stability and South Africa really needs to clean their act up especially the government. I do have hope. I have faith and I am optimistic. Because SA remains the most beautiful country, with strong possibilities, opportunities and the friendliest people imaginable. Ok rant over... Luckily we have time for this one to flourish and bloom. ABOUT THE COMPANY Truworths International Limited, was founded in 1917 in Cape Town, South Africa. Truworths operates a portfolio of fashion brands, including Truworths, Identity, Uzzi, LTD, and Earthaddict, catering to different market segments and consumer preferences. The company primarily focuses on offering clothing, shoes, and accessories for men, women, and children. It covers a wide range of styles, from casual wear to formal attire. Truworths has a significant presence in South Africa and operates over 700 retail stores across the country. It has also expanded its footprint to other African countries, including Namibia, Botswana, Eswatini, and Zimbabwe. The company is listed on the Johannesburg Stock Exchange (JSE) and forms part of the JSE Top 40 Index, which comprises the largest publicly traded companies in South Africa. ABOUT THE NAME The company was established in 1917 by a partnership between Jack Lewin and his son, Isaac Lewin. Initially, the business was known as "The Alliance Trading Company." However, in 1934, the name was changed to "Trueworths" to better reflect its commitment to providing quality merchandise at affordable prices. The name "Trueworths" was chosen to convey the idea that customers would find true value and worth in the products offered by the company. The change in name also coincided with a strategic shift in the business, focusing more on clothing and fashion retail rather than general merchandise. Over time, as the company grew and expanded, the name "Trueworths" evolved to "Truworths," which is the current name of the company. The name change to "Truworths" is believed to have occurred in the 1970s to modernize the brand and align with changing consumer preferences.
JSE:TRULong
by Timonrosso
Truworths showing downside to R40.21 thanks to Rev Inv C&HReverse Inverse Cup and Handle formed over the last few months. Then there was a Rising Flag formation, which is a consolidation period before further downside. We need the price to break below, to get a stronger sell signal to the downside. MAs = mixed RSI<50 Target R40.21 SMC Buy Side Liquidity (Order Block) formed at the TOP of the handle of the Cup. This is where Long traders Bought at these levels, this is where Short Sellers got stopped (had to rebuy). And Smart money came in and swept the buying and sold into it - which pushed the price down. So I'm quite confident the bias overall is down.
JSE:TRUShort
by Timonrosso
Truworths crashing after results and new target in play Truworths has formed an M Formation over the last few weeks. The price broke below the neckline and now it looks like the next target is in play. 21=7 - Changing Price >200 - Bullish RSI <50 Bearish Mixed view with bearish bias. Also it seems that the market is not appreciating the Truworths $JSETRU 1H 2023 results. Revenue R11.73 billion, +14% y/y Net income R1.88 billion, +6.1% y/y Adjusted EPS R4.874 vs R4.438 y/y Gross margin 53.5% vs. 53.6% y/y Interim dividend per share R3.20 I'm bearish right now but with the mixed signals anything can change.
JSE:TRUShort
by Timonrosso
THE FOSCHINI GROUP (TFG) DAILY TIMEFRAME SHORTThere is no magic crystal ball here. Whether you are on the daily timeframe or 4-hour, the stars are aligned baby! The price for this stock is moving in a clear range with the support at 15 760 and the resistance at 17 825. Now we can see a bearish candle start to form at the top, and a second closure of a bearish candle will likely be my trigger for the trade. A more conservative entry would be to enter when the third bearish candle moves halfway the length of the prior candle.
JSE:TFG
by munyaelliott