Forget about the daily chart,look at the weekly chart,it is way more telling.
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It has gapped up, very positive, 3 times since may it has touched the trendline and bounced upward from there.
The ascent lately is only punctuated by 3-4 week short term corrections,it would only take a bit more positive news to really push the price to $1.07 and beyond. $1-07 is the first fibonacci extension from the last upward movement before consolidation.
I would say we are positioned for growth percy.
I'm not surprised the sp is charting well. Net operating income increased by 16% at the same time non core property assets were sold down.
I believe smart purchases are being made at todays sp price levels.
This has been my favourite trading stock,and recently I stayed out waiting for the correction in the markets that eventually came,my mistake was not realising how resilient the share price would be.I missed an $11,000 dollar trade incl. divi,which I normally wouldn't have.
So now with the prospect of an aquisition which I don't believe is too far away,and the increased earnings for the current year,and the correction out of the way,I really can't afford to be out at the moment.
The sp strength surprised me too.I expected it to trade between 96 and 98 cents.I have never sold any,only brought more, so I have been lucky.
Maybe more brokers are like the brokers Snapiti referred to yesterday.
More runs on board,credit upgrade,modest PE,excellent dividend,and a favourable outlook, are making Heartland an easy recommendation, for brokers, to clients who are looking for better returns than those available from bonds.
Kizame - do you charting to decide on your trades?
Yes, first and foremost, I look for long upward paterns on the weekly charts or better still, those about to start on an upward trajectory.
The stocks about to start have breached the down trendline and consolidated + the fundamentals should be very encouraging.
Heartland is an obvious candidate because it is relatively reasonably priced compared to other stocks,and on an organic and aquisitive growth path.
Looks like the market has given a resounding endorsement of Richard Lorraway's credentials. Crikey my $1.10 - $1.20 by ASM time next year is starting to look very conservative :ohmy:
Don't think anything to do with that Richard guy .....more so the market slowly coming around to what you and me have been saying.
Going to be a bit embarrassing for Jeff when he suddenly pulls a few extra million out of the hat eh. Going to be hard to stick to $42m when first half is $22m/$23m - a sign they not exactly on top of where things are going?
C'mon $49m/$50m earnings this year. Shareprice next ASM will be prejudging FY16 so over $1.40 I reckon