Technicals | Nov 23 2021
This story features JB HI-FI LIMITED. For more info SHARE ANALYSIS: JBH
In this week's research, we have a chart of JB Hi-Fi ((JBH)), which is one to keep an eye on.
JB Hi-Fi is one to keep an eye on for the moment. After reversing in late September-early October, it then rallied for a few days, spent the rest of October consolidating, and then rallied back up towards resistance near $51.
Since the start of November, it has been easing back in the form of a bullish flag. To do this under major resistance is a positive sign. It means that JBH is churning through the sellers and once that selling is done, it should be ready to launch above $51 and get rallying again.
For the moment though it is best to play safe and wait for that to occur. That is, a break through $51 would be the buy trigger.
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Michael Gable is managing Director of Fairmont Equities (www.fairmontequities.com)
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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For more info SHARE ANALYSIS: JBH - JB HI-FI LIMITED