I'm not a technical analyst (more of a fundamental analyst) but JBH is looking over valued (it's chart is looking a little top heavy), and in these current market conditions JBH could be due for a correction. Huntley's SCG for this week tend to think so!
The P/E ratio is sitting at 19, and growth is slowing as well as consumer sentiment weakening. There are risks with the new store rollouts and acquisitions also. And on top of this, the stockmarket is due for a correction as well!
So the equation looks like this:
weak sentiment + over valued sp + slowing growth + risks with new store rollouts + top heavy chart (higher RSI) + current stockmarket conditions = share price correction
I'm not a technical analyst (more of a fundamental analyst) but...
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Last
$66.64 |
Change
-1.260(1.86%) |
Mkt cap ! $7.286B | |||
| Open | High | Low | Value | Volume |
| $67.26 | $67.66 | $66.64 | $18.25M | 273.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 2787 | $66.59 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $66.96 | 74 | 1 |
View Market Depth
| Last trade - 16.10pm 25/07/2024 (20 minute delay) ? |
| JBH (ASX) Chart |