Hudaco Industries Limited is a South African-based company, which is engaged in the importation and distribution of branded automotive, industrial and electrical consumable products, operating in the Southern-African region.
On Friday, the 28th of June, Hudaco released its interim results for the six months ending May 2019. Under challenging trading conditions, the group managed to increase turnover by 7.5% to R3.2 billion. The company’s financial performance is dependent on growth in the South African economy, and its earnings have a significant bias towards consumer spending.
Hudaco is currently trading at a significant parallel (channel) support line, with a break and close below R112, most probably only seeking support at around R100. Should we see the support hold and recovery from current levels, we could price aim for the 50-day moving average levels (at around R128), with a breakthrough those levels, most probably testing the 200-day moving average at about R137.
Read our FULL report on the company by following this link: http://oldoak.co.za/wp/index.php/2019/07/05/get-to-know-your-jse-companies-hudaco-industries-ltd-jse-hdc/
On Friday, the 28th of June, Hudaco released its interim results for the six months ending May 2019. Under challenging trading conditions, the group managed to increase turnover by 7.5% to R3.2 billion. The company’s financial performance is dependent on growth in the South African economy, and its earnings have a significant bias towards consumer spending.
Hudaco is currently trading at a significant parallel (channel) support line, with a break and close below R112, most probably only seeking support at around R100. Should we see the support hold and recovery from current levels, we could price aim for the 50-day moving average levels (at around R128), with a breakthrough those levels, most probably testing the 200-day moving average at about R137.
Read our FULL report on the company by following this link: http://oldoak.co.za/wp/index.php/2019/07/05/get-to-know-your-jse-companies-hudaco-industries-ltd-jse-hdc/