The Foschini Group (TFG ZA)
Analysts: Peet Serfontein, Sithembile Bopela
The Foschini Group is an investment holding company with a core business focus in retail and financial services. The group comprises several brands trading throughout southern Africa offering a prominent lifestyle range of household name brands including Foschini, @Home, Sterns, Totalsports, Sportscene and Jet, among others. The group also owns Phase Eight and Whistles in the UK, and RAG in Australia.
Technically, a falling wedge pattern in the price makes the share an appealing investment opportunity (see the first insert on the main chart). This pattern typically signals a potential reversal within a broader downtrend as it reflects a gradual loss of selling momentum often accompanied by decreasing volume.
A confirmed breakout above the upper trendline is usually interpreted as a strong bullish signal, especially if supported by rising volume, indicating renewed buying interest.
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