It is on good support and oversold.You might get a little bounce but it still doesn't look good.There is a lower target still from a head and shoulders higher up,so it might end up at that thick support area around 8100.If you buy make sure you have a stoploss in place.
Truworths is still looking bearish IMO. I would wait for MACD (12-26 EMA) to go above 0 to indicate a change in direction, specially if you will be trading CFD's. Next support level looks to be around the R83.50 . What's your views? What technicals or fundamentals are you using?
Thanks For the responses - I use Stochastic and RSI which were both signaling a buy. Also noted that R87.00 was strong support price (Jun and Sep 2012) and it was hugging bottom Bollinger Band. Also noted that further drop could go all the way down to R79.00. From a fundamentals view-point they have cash and been consistent with increased dividends year after year.
Treat Sto as leading and rsi as lagging and while both have been in oversold rsi started moving up (breaking) 30. When both start? turning up I treat as entry point. *PS* Retract comment that Sanlam buying Tru Sanlam buying into LEW so not sure why LEW heading south