****Not a Financial Advice******
Harvey Norman with a dividend yield of almost 8.5% and now after earning release has corrected between 11-14% in a matter of a week.
The downside is contained with side way consolidation for next few months. Two much bad news and headlines now make it as value buy. Always a good idea to look for opportunities at peak pessimism....
Harvey normal showing a bearish long term rising wedge formation. It will break to the downside. This is confirmed by bearish divergence on 3 month RSI and MACD.
Hi Everyone,
I've spotted an opportunity for those into Stock Trading.
HVN has proven to be a healthy company and has excellent, healthy numbers even during challenging times.
I'm buying at $5.10 and plan to hold for about 5 years. This will be part of my long-term strategy portfolio.
Let me know your thoughts.
Gaspar_Trader
Harvey Norman another stock looking to blow off some steam after a nice Covid bull run. High demand in online shopping sector combined with the Covid lockdowns and agreements with BNPL companies saw nice 160% Gains for Harvey Norman. However The bears look to be in control here and we should be able to pick up some solid gains within the correction phase by...
Harvey Norman is a popular electronic and household appliance branch in Australia however despite profit levels and steady insider buying some data outlines HVN may be due for a correction.
Based on Fundamentals HVN has both negatives and positives.
Positives:
--> High returns despite covid-19 as Australia retail sales dropped 1%
--> Steady insider buying ($1.1...
Entry: 5.01
Stop loss: 4.76
Broke out of its thrice tested resistance of 4.88 today with good volume.
Stock has quite a number of overlapping bars. Might not be that aggressive in its surge though.
ENTRY: 5.01
TP: 5.32
SL: 4.73
- ADX<25. Prefer it to be higher.
- RSI>60 and increasing.
- FFI and RSI +ve
- Good volume breakup from consolidation since Sep 2020.
Harveys has been running well in the absence of any real competition from Amazon having arisen. It's a long way off old historic highs and looks like it might be able to breakout. There was a minor pull back the previous day so if its up today and volume appears it could be worth a look. Might get rejected as before so buyer beware :)
Harvey Norman Holdings...
On the Daily it had a nice pullback to $3.87 with a beautiful bounce to the upside, confirmation with the fib levels. Looking to the upside with this stock, the ASX should be opening positive today just due to oversees market. With the EMA 13 and 50 it's trending very nicely to the upside, on the weekly it has broken the key level of $3.87 and it just above the...
Due to macro view the ASX should be opening higher this morning, this is why i'm looking at consumer cyclicals stock such as HVN. HVN is sitting on support with the help of 20 ema and it's on the 61.8% Fib level as well. It is trending very nicely with the EMA and forming higher highs.
