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In the upper panel is a ratio weekly chart of TRU vs the JSE Top 40 Index.
In the lower panel is the distance of the ratio vs the 200-day/40-week simple moving average.
When the ratio rises, it means that TRU is outperforming the market and when it declines, it means that TRU is underperforming the market.
What stands out to me is the following:
On a relative basis, the ratio is trading at 29% above it's 200-day/40-week SMA. When considering the historical extensions, this is a technically expensive range and may suggest that the share is not offering value on a short to medium term basis.
In the upper panel is a ratio weekly chart of TRU vs the JSE Top 40 Index.
In the lower panel is the distance of the ratio vs the 200-day/40-week simple moving average.
When the ratio rises, it means that TRU is outperforming the market and when it declines, it means that TRU is underperforming the market.
What stands out to me is the following:
On a relative basis, the ratio is trading at 29% above it's 200-day/40-week SMA. When considering the historical extensions, this is a technically expensive range and may suggest that the share is not offering value on a short to medium term basis.