TFG - The Foschini Group - Pending Break of Consolidation

I 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.