Jump to content

Halfords drifts sideways ahead of Q1 trading statement


Recommended Posts

Halfords drifts sideways ahead of Q1 trading statement

After a stellar set of full-year numbers, analysts and investors are looking to Halfords to provide a spark for the share price.

bg_halfords_917262.JPGSource: Bloomberg
 Chris Beauchamp | Chief Market Analyst, London | Publication date: Monday 06 September 2021 

Halfords was one of the great beneficiaries of the pandemic, seeing its share price surge 700% to its July 2021 peak above 400p. Since then, the company has seen a modest decline, leaving the overall uptrend intact.

As the UK economy returns to normality, investors will be hoping that the potential drop-off in cycling activity is offset by a revived performance in the motoring division. Traffic levels are returning to pre-pandemic levels, albeit slowly, which gives hope that sales will continue to rebound to a degree. At around 12 times forward earnings the shares remain around their five-year average, a drop from the 15 times seen over the summer this year.

Halfords shares fell sharply in July, breaking below rising trendline support from March 2020. However, they found support around 337p, a level which has held since then.

Gains have been capped around 380p for the time being, leaving the shares in a relatively tight range that has yet to provide an indication of the next move. Above 380p, 435p comes into view, the high from the summer, while a break lower heads towards 298p and then 251p.

HFD_060921.pngSource: ProRealTime


Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • General Statistics

    • Total Topics
    • Total Posts
    • Total Members
    • Most Online
      10/06/21 10:53

    Newest Member
    Joined 24/01/22 06:13
  • Posts

    • For more up to date news on how markets will open, the latest earnings and economic news, watch IGTV live in the platform at 07:30am UK. Today’s coverage:   Indices: 24-hr mkts show a recovery from Friday’s lows with Europe near to Friday’s cash mkt close. VIX partially retraces Friday’s 6-week high   FX: Flash PMI data released will revel effects of global Omicron effect. watching all the main crosses EURUSD GBPUSD USDJPY AUDUSD. Japan factory orders 4yr high. Watching USD ahead of Fed and CAD ahead of BoC both Wednesday Equities: Earnings today PHIA IBM SLB. Watching crypto proxys like COIN & ARB as Bitcoin hits 50% retracement from record high and Ether crashes support Commods: Gold consolidates at last week’s high. Oil waiting for direction. Heafty declines for Lumber     https://community.ig.com/igtv/
    • Hey guys, Please help me understand the way which the change and % change are calculated? I understand the candle sticks are based on the time period i.e. daily however the changes do not seem to make sense to me at the moment. I have attempted to derive the use % change from close to close between days, however the numbers do not match up.    I.e. Codan trading on the ASX at close today (24/1/22) had a change of -$0.005 or -0.06%, however the candle stick shows open $8.24 and close $8.39 detailing a change 1.82% during the day, now the trading day prior (21/1/22) close was $8.38 detailing a total change of 0.12% with todays close... this is where I get lost as none of the fluctuations make sense unless I am missing a trick here...   ***In addition while organising this post I noticed that the Codan data changed? The open price was wildly different between my 2x screen shots   Any help understanding this would be greatly appreciated    Regards           
  • Create New...