A price action above 640 supports a bullish trend direction. Increase long exposure for a break above 675. The target price is set at 714. The stop-loss price is set at 610. Notice how the 200-day and 200-week simple moving averages act as confluence support. Remains a risky trade.
I TRADE Hammerson reularly. Looking very good on the charts now!
JSE-HMN is potentially forming a Double Bottom pattern in a bullish momentum. Waiting for confirmation with a break above the neckline and confirmed support above R5.29. Potential target area of R6.89. Target 1 - R5.89 Target 2 - R6.44 Target 3 - R6.89 Resistance at the Neckline could see it continue the previous down trend.
I stumbled across the Hammerson PLC chart this morning. After some doodling around a bit, I'm pretty convinced there is "Falling Wedge Pattern" that has emerged. I would be lying if I'd said I have done any fundamental research on HMN, other than having a look at some of their latest SENS articles (to make sure there are no gremlins lurking). I did however...
So far this morning, property shares have been flashing, hitting highs of the day. HMN has developed a pennant (~65% complete) where I expect further consolidation before a push toward the upside of the structure. Entry is a break and close above the trend line ~800c. Target: +920c - 940c Stop-loss: 740c Lots of doubt for the sector (justifiably so)...
Good to see JSE:HMN back above the 200EMA. It better push up this time, today's close had a good amount of volume. A swing trade here, stop just below the ATR, target the swing high near R13; a 1:4
Trim some hammersons here. Longer term I see higher prices.
We did say a few months ago that we really liked HMSO, right? Well, we took some off here now.
Bullish Pennant (47%) Pros: Volume during post formation Descending volume during triangle formation Volume at break out PPS above 50MA and 200MA RS above 0 ATR Ascending R/R ratio above 8 250RSI above 50 200MA ascending Cons: RS flat Target: PT = 47.76$ Help how ever you can to keep this alive. Thank you to those who have donated Coins! Always do your own due...
Hammersons has had a 5 month consolidation below 600c. Morgan Stanley has been buying here too. A break above 600c will trigger more buying and short covering.
We might have missed a pretty good entry earlier but might find another one on lower timeframes soon. Let's see if this works out.
Update on $JSEHMN moving high breaking the resistance.
HMN established a proper bottom around 330. *Nice bullish weekly candle developing here on decent volume breaking the down trend. *Weekly close above 10ema will confirm the long idea. 500 looks to be the level to watch. *Stochastic indicator is very oversold on the weekly chart. Possible targets are 800 then 1300 NB!! This is not trading advice, my ideas and opinions...
Hammerson's ripping higher today was up 17%, this is the UK`s most shorted stock.