Truworths settings itself for great upside to R69.45

8 ביוני 2023

Inverse Head and Shoulders has formed with Truworths.
This is definitely not ripe for the picking if we're waiting for this formation to form.
It might even form into something completely different.
But here is my take on it.
The signs are slowly becoming bullish and things are looking good.
7>21
Price<200
RSI>50
Target R69.45

The rand though however needs to find stability and South Africa really needs to clean their act up especially the government. I do have hope. I have faith and I am optimistic. Because SA remains the most beautiful country, with strong possibilities, opportunities and the friendliest people imaginable.

Ok rant over... Luckily we have time for this one to flourish and bloom.

ABOUT THE COMPANY

Truworths International Limited, was founded in 1917 in Cape Town, South Africa.

Truworths operates a portfolio of fashion brands, including Truworths, Identity, Uzzi, LTD, and Earthaddict, catering to different market segments and consumer preferences.

The company primarily focuses on offering clothing, shoes, and accessories for men, women, and children. It covers a wide range of styles, from casual wear to formal attire.

Truworths has a significant presence in South Africa and operates over 700 retail stores across the country. It has also expanded its footprint to other African countries, including Namibia, Botswana, Eswatini, and Zimbabwe.

The company is listed on the Johannesburg Stock Exchange (JSE) and forms part of the JSE Top 40 Index, which comprises the largest publicly traded companies in South Africa.

ABOUT THE NAME

The company was established in 1917 by a partnership between Jack Lewin and his son, Isaac Lewin. Initially, the business was known as "The Alliance Trading Company." However, in 1934, the name was changed to "Trueworths" to better reflect its commitment to providing quality merchandise at affordable prices.

The name "Trueworths" was chosen to convey the idea that customers would find true value and worth in the products offered by the company. The change in name also coincided with a strategic shift in the business, focusing more on clothing and fashion retail rather than general merchandise.

Over time, as the company grew and expanded, the name "Trueworths" evolved to "Truworths," which is the current name of the company. The name change to "Truworths" is believed to have occurred in the 1970s to modernize the brand and align with changing consumer preferences.