TFG POSSIBLE SHORTTFG 50MA not holding and we could see it test R118. Position is short (talking days here).
F1WA 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
#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.
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 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
