HARVEY NORMAN HOLDINGS LIMITED - ASX: HVN

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ASX investor profile picture
ShareShack user name hidden until logged in January 04
Retailers have taken a beating this week after Kathmandu KMD issued a profit downgrade on Thursday. Although they are starting to look quite cheap based on historical earnings yields, I’d be expecting the forecast earnings expectations for some of these companies to be wound back as we move into the half yearly reporting period. The technical picture reinforces this view with a number of the major retailers breaking below long term support in recent weeks with JBH leading by example this week as shown in the chart below. I view any short term bounce in retail stocks as an opportunity to sell....Show more
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ShareShack user name hidden until logged in December 09
HVN presenting with a possible short setup after failing to regain the old long term support line last week. Risk would be above last weeks high at $3.40....Show more
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ShareShack user name hidden until logged in May 07
HVN has been sold down heavily since reporting a disappointing set of numbers along with a cut to its dividend at the half yearly results earlier this year. This has seen the share price trade down to 3 year lows where it is now testing longer term support around the $3.35 area. It’s worth keeping an eye on at this level but not a stock to rush into here as I think we are going to need a decent catalyst to help turn sentiment around with this one. I’m not sure when HVN are due to release their quarterly sales update but this will likely be the news the market is waiting for to determine the next move from this level. Disclosure - held...Show more