Bullish JB HiFi - Buy at pullback
JB HiFi is going to go up over the next few weeks.
Fundamentals
- Promising Australian economic data ie skyrocketing consumer confidence, JobKeeper payments are 50% unused meaning potential demand, good May PMI's, retail sales beating expectations -----> suggesting recovering in spending
- relatively isolated from geopolitical risk ie main market is Australia/NZ, supply chain protected with excess stock/inventory ----> hedge against unwanted risk
- JB HiFi is heavily stocked on electronics ---> supporting the growing/prolonged work from home trend ----> hedged from geopolitical concerns, cash flow concerns
- Stock has rallied from March low and now in an uptrend ----> market's support for the business at this time
- Major indices are rallying -----> supporting economic reopening hopes
Technicals
- 20 day MA crossing over 50 day MA and 200 day MA ----> bullish indicator
- MACD & RSI trending upwards -----> bullish indicator
- 20 day MA now support
Fundamentals
- Promising Australian economic data ie skyrocketing consumer confidence, JobKeeper payments are 50% unused meaning potential demand, good May PMI's, retail sales beating expectations -----> suggesting recovering in spending
- relatively isolated from geopolitical risk ie main market is Australia/NZ, supply chain protected with excess stock/inventory ----> hedge against unwanted risk
- JB HiFi is heavily stocked on electronics ---> supporting the growing/prolonged work from home trend ----> hedged from geopolitical concerns, cash flow concerns
- Stock has rallied from March low and now in an uptrend ----> market's support for the business at this time
- Major indices are rallying -----> supporting economic reopening hopes
Technicals
- 20 day MA crossing over 50 day MA and 200 day MA ----> bullish indicator
- MACD & RSI trending upwards -----> bullish indicator
- 20 day MA now support
Note
Today's Westpac Consumer Sentiment Index rose 6.3%, fully erasing coronavirus related worries.This is further confirmation of JB HiFi's continued bullish momentum.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.