Petri Redelinghuys, trader and founder of Herenya Capital Advisors, on what the smart money is doing.
BUY: TFG
TFG recently released a robust trading update, with retail turnover growth of about 31%. Despite this good news, the company has been under the hammer from a large-scale seller for many days. The way we see it is that TFG is now trading firmly in a support zone with a backwind of good trading results, and eventually the large seller exerting downward pressure will step back. Therefore, we like the long trade on TFG, at least back to the most recent highs achieved in September.
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