Truworths ‘invalidating’ the bearish rising wedge pattern which had formed,by breaking to the upper side of the wedge pattern.
Just above the wedge pattern, we have horizontal resistance just below the R78 mark, and we look set to close above that resistance level.
Rand is still weak, most SA inc. stocks pulling back today, but Truworths seem resilient somehow.
Elections in 2 days’ time, anybody’s guess if it will continue pumping higher and cut through its 200dma at R80.
I will watch it for now.
Just above the wedge pattern, we have horizontal resistance just below the R78 mark, and we look set to close above that resistance level.
Rand is still weak, most SA inc. stocks pulling back today, but Truworths seem resilient somehow.
Elections in 2 days’ time, anybody’s guess if it will continue pumping higher and cut through its 200dma at R80.
I will watch it for now.