Jump to content

Halfords drifts sideways ahead of Q1 trading statement


MongiIG

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
  • image.png

  • Posts

    • In the previous year, #bullrun2024 had been a trending hashtag as most crypto enthusiasts continually drooled over the prospects of witnessing another bull cycle. 2024 is finally here and so far so good has produced only fireworks. BTC has soared to 60k+, the market is green, and there’s a general sense that the bulls are returning. If there’s one thing that pays most in such bullish market, it is the flair to spot early gems and position oneself before a breakout. In that regard, Bitget has been my plug for a few years running. The early listing of $ORDI last year for instance before Binance listing 7 months after, and a surge ultimately is well documented. This year alone, Bitget has continued its wealth creation for users nicely, coins like $PORTAL, $GPT, $GTAI and so on have gone on to print for investors as depicted in the picture below. Web3 rewards not just active participation, but strategic positioning. There’s no gainsaying that the key to securing insane profits in this market is by positioning early and strategically too. Bitget’s eagle-eye for spotting early gem is a flex. Numbers don’t lie.  
    • Portal itself is awesome. Those who haven't got any airdrop, I think it's best time to accumulate for them.. tho, I'm gonna DCA....
    • Nope the hype is worth it. The project is dope itself as well as the team. Already deposited my bag at Bitget... Let's hope for the best 🤞
×
×
  • Create New...
us