Short Truworths 03/10/2017
TWEET THIS TRADE
Truworths [JSE:TRU] closed below a key support level today, and given that this is below both its short-term and long-term moving averages I expect this downtrend to persist should the Rand remain weak in the short to medium-term.
ENTRY (SELL): A close below R75.00 confirms the short entry
STOP LOSS: R77.95
TARGET PRICE 1: R71.95
TARGET PRICE 2: R68.00
Timeframe: Daily
Chart source: Bloomberg
Musa Makoni | Trading Specialist at GT247.com
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