JB Hi-Fi - would you buy it? Have been noticing some brokers and pro tipsters promoting it for a while. So far they've been right in terms of recent price increase, but I'd need charts to be more clear cut if I were to have a go. Not that I'm potentially in the market for JBH or anything else for a while. The monthly is so far throwing indecisive (spinning top) candles as it rather weakly rallies towards the upper area of its +1 year downtrend. It's also near the area of level resistance. The daily could be a 4 month bottoming process with obvious resistance to be overcome at 16.50. An attempt to break above this resistance failed and what might be interpreted as a pennant is also looking ragged and old. Must break out soon or looks a bit weak? Stocksinvalue currently values it as slightly overpriced based on last 12 months actual earnings, and 11% underpriced based on forecast fy15 earnings MONTHLY [imgz=http://forums.silverstackers.com/uploads/1893_jbh_mthly_jan_22.gif][/imgz] DAILY [imgz=http://forums.silverstackers.com/uploads/1893_jbh_dly_jan_22.gif][/imgz] [youtube]http://www.youtube.com/watch?v=DhIqPMJzMBk[/youtube] JB Hi-Fi Ltd (JBH) is the centre of discussions today with Lou noting a number of reasons behind the change in recommendation on the stock including lower oil prices and interest rates. Lou also analyses how the currency may affect the business outlook for JBH before noting the key revenue-driving products for the company along with the new JBH store focusing solely on home appliances
Strong day on Friday and the price is back within a compressed space (pennant?). It looks to have potential for breaking out of a 'base' on the daily, but not rocket science to say that $16.50 is the resistance level to overcome. Looks like it will test it once again. Could amount to a crude 'cup & handle' pattern which would suggest a target if 16.50 is surmounted.
Dollar is dropping and imports will go up, not sure how much people will stop buying theirs products, bit of a gamble in my mind
