im looking for a price around mar/april tops as resistance for me.
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All time high was about $5.60 in September 2016. I'm looking at that price as the long term resistance level. Any break above $5.70 on good volume would be a strong BUY signal for me.
At a PE of just 5 moving up to around a PE of 6 its actually not a big move in terms of valuation. Its more of a move to fair value from being undervalued. Still slightly undervalued I think at its price but depends on how you look at it.
Most mutual fund managers and kiwisaver managers need to report to their clients on short term basis mostly quarterly or yearly basis. A company that probably won't see any meaningful profit number or dividend for another few years is just no good.
https://www.interest.co.nz/property/...pared-year-ago
My forecast model at the start of this year assumed flat house prices in Auckland and 3% growth on average in the rest of N.Z.
Actual results are substantially better. Worth noting that the vast majority of SUM's villages are located outside of Auckland.
i was hoping it might go to previous highs early in the yr , couldnt stay above that 5.25 resistance oh well time to wait for the lows again in the range