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Technical trade note Truworths - 19 June 2018

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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!

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