Retail stock prices have made some large moves during the last few months. We traded the recent bounce in JB Hi-Fi but have since moved on. Harvey Norman (HVN) is the other large retailer that attracts plenty of interest amongst investors. At the end of August, Harvey Norman announced their full year results. NPAT was up a staggering 29 per cent to over $448m – a record breaking result for the company. However, the shares closed down 7.5 per cent …
It can be tough to invest in an airline. Australian airlines have to fight competition from overseas airlines (which are often owned by governments with deep pockets), fluctuating fuel prices and currencies, workers unions, and changing consumer demand. However, recent cost cutting and more attractive fuel prices, amongst other things, has seen the share price of Qantas (QAN) do remarkably well. Qantas has had a stellar run in the last few years, heading from $1, up towards $6. Across late …
After peaking in early May on the day of their results, Macquarie Group was then heavily sold down (circled). This price action on the shares clearly suggests that the all the upside was factored in. And therefore means that the stock was too expensive. Since then, it has been struggling and we can see some lower highs and lower lows starting to set it. Looking at the chart, we think that investors should brace themselves for some more downside. Currently …
IAG reported today and the share price tumbled. At one stage it was down 10%. In our weekly research that we send to clients, we warned a week earlier that there was something wrong with the IAG chart. The chart was giving us clues that the market did not like the stock. We had recently warned of upcoming weakness in Suncorp and QBE, and those concerns played out. With IAG also getting sold down heavily, how did we identify the …
The last several weeks has seen Fortescue (FMG) bounce strongly from nearly $4.50 to over $5.80. Some analysts are getting nervous with the iron ore price up here, but is there even more upside for FMG? We have seen some huge moves in the price of iron ore during the last 12 months. Measured in $US/tonne, we’ve seen it rally from under $50 to over $80 earlier this year. It dropped back to the low $50’s in May and is …