A price action above 10900 supports a bullish trend direction.
Further bullish confirmation for a break above 11200.
The target price is set at 11700.
The stop-loss price is set at 10400.
Remains above its 200-day simple moving average, supporting a bullish underlying trend.
The share appears to be in a mark-up phase out if the market cycle analysis. Such a...
See link below for previous analysis.
Foschini seems to have found a bottom at 8100.
The big bear market from 16688 has unfolded in a classic zig zag;
Wave (A) is a simple impulse.
Wave (B) is a running triangle.
Wave (C) is an ending diagonal.
The move from 8100 looks to be forming a leading diagonal.
After five waves are complete in the leading diagonal, I...
The Foschini Group (TFG) is an international retailer of 28 fashion brands. It has 4083 trading outlets in 32 countries around the world. It has a division in London and one in Australia, aside from its extensive presence in the South African market. One of the notable achievements of TFG is that it has managed to establish a successful business in Australia where...
The stock traded to a high of R119.13 in late November last year and has since broken down to an area of interest.
It will be important to see if bulls can hold the trendline that extends from May 2023.
No position as of yet, will see if any buyers step in.
An extract from today's research notes. To receive these research insights, including trade ideas, get in touch today.
Monday 20-November-2023, 06h30 TFG vs TRU - Market Neutral/Pairs Trade View. Over the long term, the two pairs have been closely correlated, however over 3 years, the performance outcome has diverged. TRIU is higher by 96% while TFG has lagged,...
The Foschini Group (TFG) is an international retailer of 28 fashion brands. It has 4083 trading outlets in 32 countries around the world. It has a division in London and one in Australia, aside from its extensive presence in the South African market. One of the notable achievements of TFG is that it has managed to establish a successful business in Australia where...
Declining Channel: The share has been trading within a well-defined declining channel, as highlighted by the two parallel red lines on the chart. This pattern typically suggests a consistent downward trend.
Moving Averages: Two moving averages are depicted on the chart - the "200-day" and "200-week." The share is currently trading below both these moving averages,...
The stock rallied hard yesterday after dipping and likely trapping some shorts just below the ambush zone R91.74
Price has pushed back over of the 20/50 ema but it will be important to see some follow through today else a a short-term reset to R93-95 may be in order.
"The 61.8% level is a Fibonacci retracement level that traders use as a trading strategy for...
A price action above 9300 supports a bullish trend direction.
Further bullish confirmation for a break above 9750 (38.2% Fibonacci retracement level).
The target price is set at 10050 and then 10500.
The stop-loss price is set at 9300.
Corrected from oversold territory (see the lower panel).
The Foschini Group (TFG) is an international retailer of 28 fashion brands. It has 4083 trading outlets in 32 countries around the world. It has a division in London and one in Australia, aside from its extensive presence in the South African market. One of the notable achievements of TFG is that it has managed to establish a successful business in Australia where...
The Foschini Group, TFG
1. Price Formation: The price has broken out from a "W" price formation on a daily chart. The "W" pattern is considered a bullish reversal pattern, indicating a potential upward trend.
2. Moving Averages: The 7-day moving average (MA) is above the 21-day MA, which is a positive sign indicating short-term bullish momentum.
3. 200-day Moving...
Foschini has broken previous high and is making higher lows. Stop on this one will be large. Stochastic, MACD and Momentum have all crossed over, triggering the buy. Target about 10% profit.
Inv H&S has formed on TFG. It's not a very attractive one as the left shoulder moved past the neckline.
I call these the Quasimodos of trading.
Anyway, the large downtrend has broken and the uptrend is on its way. So the signs of buying and demand are high.
We have other indicators confirming:
7>21
Price<200
RSI>50
Target 1 will be at R120.00
ABOUT THE...
JSE:TFG is at an area of value, near a key MA and near a resistance level. Based on the MA, JSE:TFG can move past the resistance level, however, the stock is trading ex-dividend on the 19th. There we might see a R1.50 price drop.
The stock is interesting nonetheless.
Inv H&S has formed on The Foschini Group.
It's potential and there are two scenarios.
One the price just rallies with the rest of the JSE Retailers and goes to R120.
Or two, it could hit the top of the downtrend, consolidate align and then break up and out of it once there are strong buying troops and demand.
Either way, the signs are good for upside since it...
Medium term downtrend has been evident over the last couple of months.
It's been a haven for trend traders.
These are the ones that go short and trail their stop losses as the market goes further down.
200>21>7
RSI<50
Target R68.45
The last coverage of Foschini was on the 14th of March 2023, link below.
Price has traded moderately lower since then.
On the 10th of May 2023, TFG released a trading update for Q4'2023 and the 12 months ended 31 March 2023.
Technically, not much has changed on the structure and we now have more clarity that the correction is not yet complete.
The stock had a...
