Share price above the upper channel line ...just like Sept 2016
Is a weekly chart so may still be in the channel by Friday if price falls back to $6.32
SUM share price continues to increase at ~25%pa (over many years). Cool
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Share price above the upper channel line ...just like Sept 2016
Is a weekly chart so may still be in the channel by Friday if price falls back to $6.32
SUM share price continues to increase at ~25%pa (over many years). Cool
Awesome chart mate, says it all. My theory is that in recent years people have been concerned that the real estate market is cooling and their model may come under pressure.
Last year was hardly a stellar year in the real estate market, (a more normal year if you like, if there is such a thing) and look at the profit growth.
Even if SUM's profit growth declines down toward RYM's medium term objective of 15% per annum over time, SUM shares are still substantially better value.
Further, it could be that SUM don't have the 25% foreign ownership threshold of shareholding yet so could potentially have a competitive advantage over other industry participants with future N.Z. land acquisitions.
Fisher Funds been selling down ....or taking profits
That's a good sign (often)
This could rally to above $8 and still look pretty reasonable.
Doesn't seem that long the world had Summerset being affected by a collapsing property market and the share price was down at 470 odd
Now its up 35% and the future looks bright
Too many punters believe everything the media churns out ....like what they 'reporting; about the impending property market collapse was miles away from reality (i said so at the time)
Chris Lee has some interesting comments on this in his weekly comment. Seems like analysts/fund managers read the papers too much as well
https://www.chrislee.co.nz/taking-stock
For Chris Lee knockers the retirement village bit is worthwhile reading ...just pretend Beagle wrote it and you will feel better
https://www.chrislee.co.nz/taking-stock
Well worth reading, thanks winner69!
Share price fallen back late in the weel and on a weekly close is just contained in the long uptrending channel (spooky eh)
Looking at this and noting what I said a few weeks ago about range trading everything points to SUM share price trading between $5.60 and $6.80 all of this year.
Even that PE chart I posted the other day suggests that this will occur .... the $6.80 being a PE of just over 15 on $100m underlying earnings, probably all the market thinks its worth.
Doesn't seem exciting but with the shareprice still returning about 25% pa over a long period I shall just have to keep holding
I think the recent scare tactics have scared a few people off as well. It seems as though Ryman is somehow immune to it all. Their share price hasn't moved much in comparison to SUM. Perhaps they are a darling share with the fund managers out there because it should have dropped more proportionately because its so over-valued.
I do think the changes proposed by the govt may have some affect in this industry on stocks in the short term but the long game is very strong.