top of page

Retailer Near Cycle Lows vs JSE Top 40 Index

  • Writer: Lester Davids
    Lester Davids
  • Dec 28, 2025
  • 1 min read

Research Notes January 2026 > https://www.unum.capital/post/rjan2026

Trade Local & Global Financial Markets with Unum Capital.

To get started, email tradingdesk@unum.co.za


  • Upper Panel: TFG (Foschini) Relative to JSE Top 40 Index

  • Lower Panel: TFG (Foschini) Relative to JSE Top 40 Index - Distance vs 200-week Moving Average.

  • Key Takeaway: The share is trading 52% below it's 200-week SMA relative to the JSE Top 40 Index. Over the past 25 years, this has also happened on 2 other occasion, both of which was followed by subsequent relative outperformance of TFG vs the broader market.


Lester Davids

Senior Investment Analyst: Unum Capital

Comments

bottom of page