TFG trade ideas
tfg shortafter a sharp sell of the share price recovered somewhat ,it is however finding resistance at the 200 EMA.
TFG - Major Support BrokenWe may derive the following from the Weekly TFG chart:
1. Price has broken our key support level.
2. Price will in all probability continue lower.
3. Watch for short opportunities.
4. As always - maintain your risk.
Note: The views provided herein do not constitute financial advice.
TFG - Attempting A Short Term RecoveryTFG has been knocked pretty hard recently. The last few sessions has seen the price attempting to stabilize with the downward trend line being breached yesterday. The RSI is attempting to moving out of oversold territory with the price is extended well below it's 50 and 200-day moving averages. Could we see a short term rebound? The first resistance comes in around the 15629c level, which may act as the target.
*SHORT TERM VIEW ONLY*
TFG broken significant supportTFG has broken quite a significant support level which I initially assumed it would bounce off of. If the momentum continues, we could see it go all the way down to around the 13500 level.
TFG - Gloomy Looking!We may derive the following from the Weekly TFG chart:
1. Price has completed the correction (See linked idea).
2. Some profit can be taken as we are at support.
3. A small bid is most likely to occur at the support (pink line) - however a break of the trend wouldn't surprise me.
4. Keep holding short.
5. As always - maintain your risk.
Note: The views provided herein do not constitute financial advice.
$JSE-TFGJSE:TFG
Testing very strong support break bellow will only bring more downside.
After big FALSE break to the top share collapsed and went all the way to the bottom of range.
"From false moves come fast moves" my favorite stock market saying
TFG Heading for strong supportJSE:TFG is heading downward towards a very strong support level that it has tested 7 times in the past. As always, wait for confirmation, but we can possibly expect a bounce off support and a move upwards.
TFG possible triangle breakout at supportJSE:TFG is currently bouncing o a support level and looks like it might break out through the top of a triangle pattern. If it breaks through the fractal of 19 July, I will consider a long position. Failing that - a downward breakout might very well mean a downward move towards the 16000 level.
FOSCHINI - Mid-channel analysis ($JSETFG)Hi Guys
So having a look at FOSCHINI, we may derive the following from the weekly chart:
1. Price is trading in an equidistant channel, where the bears appear to be in control.
2. We may therefore test the weekly uptrend support near the 200 SMA.
3. I am favouring a move to downside but wouldn't rule out the possibility of a break to the upside where we may then retest the ATH.
4. Since we are in the middle of a channel, there would be little room to trade. Wait for a good entry.
Let's see what happens.
Note: The views provided herein do not constitute financial advice.
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.
FOSCHINI GROUP REVERSALJSE:TFG is reversing following a bearish engulfing chart pattern that formed. We can aim for the support level around the 16000 level.
It looks like a good opportunity to buy in bigger time frameson the daily and weekly it just hit the support level of the retest
TFG - small move downwardsJSE:TFG has had a lot of downward momentum in the last few days. Looking to catch a bit of the wave with a quick short trade to the long term support level around the 15500 area.
TFG - The Foschini Group - Pending Break of ConsolidationI have been bearish on SA Retailers since March 2018 (short/sell idea on TFG since R220) - this was when we saw 'Peak Ramaphoria' and when the Rand traded around 11.55 to the USD. From a valuation perspective, SA retailers do not trade on the value side and should we see weak retail Festive Season Sales being reported, this could be a catalyst for a further breakdown.
Now R158, a break could target near the R130 level.
THE FOSCHINI GROUPCurrently on a bullish flag and the bullish target is around 19160, another reason is a resembling head and shoulder pattern.
JSE_TFG: Foschini Group Oversold The Foschini Group has been in a long-term uptrend channel. The 200 SMA has defined the oversold condition during this trend. It has again pulled back to the 200 SMA becoming oversold. After an initial strong move I am waiting for a pullback to to around the 17000 level and Yearly Pivot Point on the Daily chart to go long. The target will be overbought conditions at the top of the stride channel.
FoschiniWith the petrol price increasing, tax increased this year results on a lot of financial pressure on the south african consumer leaving consumers with a lower disposable income. In time of lower disposable income it is natural in an economic sense that there would be an increase on credit purchases from consumers.
With this being said. I think TFG is best positioned for a long on retailers as they reported 7% increase in credit sales together with a decrease in irrevocable debt. This gives me an indication that TFG does collect most debt and they do it quite fast as they have the highest interests rate on debitors with 19%. This is a risk management strategy they use to collect debt as soon as possible from debitors. The faster they collect debt the stornger the balance sheet and the stronger the share price should be theoretically.
Therefore, I remain bullish on the stock.
Here is what I plan to do:
Buy: 174-176
TP: 190
SL: 169
