ASX - TRS - SRF of the 5.93 level is very positiveASX - TRS - The Reject Shop. TRS smashed through my 5.76 target. It has now Support Resistance Flipped the 5.93 level which increases my conviction. STO has bottomed out and will turn up shortly. Volume was decreasing on the bull flag. RSI shows that selling strength was weak on the bull flag. We finished with a nice pin bar and and an engulfing candle. Classic bull flag.
New target 1 = 6.49. Target 2 = 6.99.
RFD trade ideas
The Reject Shop - $2 stock or $10 + stockTechincals - Bullish flag pattern has formed, I'm waiting to enter once uptrend continues outside of flag, or bullish candle confirmation.
Fundamentals - Some new/key product offerings - reported major overhaul via a partnership with Tesco. The TRS growth story could be just starting and ripe to take off. Additionally, the last time we headed into this type of macro environment (post GFC) TRS share price was very bullish.
Reject Shop (ASX:TRS) Nice rounding bottom..Closely watching
ASX:TRS
Stock forming good multi-year rounding bottom.
Attempting to break 2018 high after over 500 trading session( hope this time go past)
Volume supported the move, strong hands are getting into stock.
Bennelong Australian Equity partners have increased their holding up 10% purchased from market.
Accumulating at different levels, waiting of the breakout :)
Only negative - COVID situation how it pans out in next couple of months.
newswire.iguana2.com
$TRS:ASX - THE REJECT SHOP - Up 130% over the last 2 months. The Reject Shop has been on a bit of a run over the last few weeks and with todays overall market down time, might have put it back in a bit of a value area again. I've noticed my younger niece and her friends all seem to like shopping at the Reject Shop and I do tend to go into them as well. Lot of Youtubers also regularly shoot videos in and around them. Might have become a thing. I have set an alert at $4.75 to remind me to have another look when it starts to head back up.
The Reject Shop Ltd. engages in retailing of discount variety merchandise. It offers general consumer merchandise such as toiletries, cosmetics, homewares, personal care products, hardware, basic furniture, household cleaning products, kitchenware, confectionery, snack food, lifestyle and seasonal merchandise, such as seasonal gifts, cards and wrapping, toys, leisure items, and home decorations. The company was founded by Ron Hall and John Shuster in 1981 and is headquartered in Kensington, Australia.
Time to take profit in The Reject Shop $TRSOn 20 January 2020, I posted about $TRS could possibly go higher from $3.95. We are at $4.70 right now.
The risk is greater than reward for holding this stock.
Thus, I would sell because TD Sequential is showing a 9 and price is due for a pull back move to the moving averages.
$TRS 100%+ gain since Dec while Australian retail in a recessionBroke out of the triangle on last Friday with a 9%+. So how much more upside is there for The Reject Shop? While Australian retailers suppose to be in a recession according to multiple sources over the last year. If we fall below $3.60 it is likely to be over. Over the yellow line and we could see another breakout to the upside...
Worth watching this week.