Technicals | Jul 06 2021
This story features HARVEY NORMAN HOLDINGS LIMITED. For more info SHARE ANALYSIS: HVN
By Michael Gable
In this week's research, we have identified a household name, Harvey Norman Holdings ((HVN)), which has recently dipped lower but is ready to get rallying again.
After easing back across March – May, we can see that HVN then levelled out. It put in a higher low in June and also made it clear that $5.40 was a key resistance level. In the last few days, we have seen HVN break above resistance and start to move higher. It is therefore clear that the stock is ready to trend higher again and this breakout from the last few days is a buying opportunity. Tight stops can be placed just under the breakout near $5.40, otherwise major support at $5.00 needs to hold.
Fairmont Equities is a share advisory firm assisting Private Clients with the professional management of their share portfolio. We are based in the Sydney CBD but provide services to private clients across Australia. We believe that the concepts of fundamental analysis and technical analysis of stocks are not mutually exclusive. Regardless of whether you are a trader or long term investor, combining both methods is crucial to success. As a result, the unique analysis of Fairmont Equities is featured regularly in the media such as Sky News Business, CNBC, The Australian Financial Review, and the ASX newsletter. Contact us for a free trial of our research and information on our portfolio management services.
Michael is RG146 Accredited and holds the following formal qualifications:
• Bachelor of Engineering, Hons. (University of Sydney)
• Bachelor of Commerce (University of Sydney)
• Diploma of Mortgage Lending (Finsia)
• Diploma of Financial Services [Financial Planning] (Finsia)
• Completion of ASX Accredited Derivatives Adviser Levels 1 & 2
Fairmont Equities Australia (ACN 615 592 802) is a holder of an Australian Financial Services License (No. 494022). The information contained in this report is general information only and is copy write to Fairmont Equities. Fairmont Equities reserves all intellectual property rights. This report should not be interpreted as one that provides personal financial or investment advice. Any examples presented are for illustration purposes only. Past performance is not a reliable indicator of future performance. No person, persons or organisation should invest monies or take action on the reliance of the material contained in this report, but instead should satisfy themselves independently (whether by expert advice or others) of the appropriateness of any such action. Fairmont Equities, it directors and/or officers accept no responsibility for the accuracy, completeness or timeliness of the information contained in the report.
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