HMPRO : At 8.8-9.00 it’s a MT buy, at 9.45-9.50 a ST punt.

We like HMPRO in terms of the likelihood of a new all-time high before long. A breakout above the August 2011 high at 10.90 should be seen during late December-January, so for now we are looking to accumulate on weakness.

Monday has 9.8 back to 9.7 as first support, and for the week 9.5 or so. It will struggle to move beyond 10.25. If luck has it and the stock falls steeply to nearer 9 we will start to accumulate in size, with a 3 month target of 11.40. Our long term target – meaning 2 to 3 years is 14.50 to 15.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: