I am not a big fan of analysing the past and how chart looks like but what I see is nice upward trend and if SP will break the upper resistance (37-40c) we can start trading around 50-55c.
We are seeing reduction in physical stores, huge increase in online sales. Strong AUD is helping to get higher profit margin. Vaccination and end of the pandemic will help to get people back to CBDs. Lack of traveling means more money in people's wallets to spend in Myer. Why? We see that 2021 has ~8-10% higher retail sales (according to ABS) compared to 2020.
I think that Myer is undervalued...but its only my personal opinion All the best to all the current and future shareholders !
MYR Price at posting:
32.5¢ Sentiment: Hold Disclosure: Held
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