Resources

Technical trade note Truworths - 19 June 2018

19 June 2018 / JSE Market Updates / Research Notes Posted by: Barry Dumas
Truworths-Technical-Take

Trade idea on Truworths International Limited (TRU)

The price of Truworths International Limited (TRU) has been consolidating over the last month or so and is set for another leg lower.

We have also seen the Rand (ZAR) coming under immense pressure over the last couple of weeks hitting a low of R13.86 against the Dollar (USD) this morning. The weakness in the Rand (ZAR) will have a negative impact on the retail sector and will play in nicely with our trade.

Full trade summary detailed below:

Trade: Truworths International Limited (TRU)

  • Entry (Sell): 7785c
  • Stop loss: 8433c
  • Target price1: 7154c

Screen Shot 2018-06-19 at 09.50.51

Source: Bloomberg

Trade Now!

*End

 

gt247 Partnership Affiliate Program

 

Disclaimer: Any opinions, news, research, analyses, prices, or other information contained within this research is provided as general market commentary, and does not constitute investment advice. GT247.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information. The content contained within is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
SEARCH ALL RESEARCH
SEARCH POSTS BY AUTHOR

Online trading
made easy.

Start Trading Today

CFDs are complex, leveraged products. Trading CFDs is high risk and losses could far exceed your initial capital input. Please ensure you fully understand the risks with trading CFDs before considering this form of trading.

GT247.com is a product of EasyTrader (Pty) Ltd t/a GT247.com (registration number 2017/190488/07), which is a licensed over-the-counter derivatives provider (ODP43) and a juristic representative of the Purple Group Ltd which is an authorised financial services provider (FSP46315).

In respect of foreign over-the-counter derivatives, we may, in our capacity as a juristic representative of Purple Group, introduce you to foreign over-the-counter derivatives providers.

All trades on the trading platform are subject to the legal terms and conditions to which you agree to be bound.

The information on this website is not directed at residents outside of South Africa and is not intended for distribution to or use by any person in any particular country or jurisdiction where such distribution or use would be contrary to local laws or regulations. GT247.com does not market its services to persons that reside outside of South Africa.
© 2024 GT247.com