Our opinion on the current state of HAMMERSON(HMN)Hammerson (HMN) is a massive international property company that has listed on the JSE to take advantage of South African investors who want exposure to offshore property investments. The company has re-focused itself to invest only in "...flagship retail destinations and premium outlets." The objective is to try to keep up with modern trends in online retail technology and consumer demand for a sophisticated digital experience. Obviously, the company's UK properties have been impacted by the Brexit policy. Their new strategy has meant that they are selling off properties which they see as "non-core".
The company's rights issue was very dilutive because it took place when sentiment was very negative. Since listing on the JSE on 1st September 2016 at R115 per share, the share price fell to 330c, but it has recovered to 463c. In its results for the six months to 30th June 2024 the company reported earnings of GBP50m, down from GBP56m due to disposals and a loan-to-value (LTV) of 39%. Occupancy was 94% and footfall rose by 1%. The company's gross administration cost was down 16%.
The company said, "Like-for-like (‘LFL’) GRI +2%, LFL NRI +2%. Excluding Cabot Circus, in repositioning, LFL GRI +4%; LFL NRI +5%. Leasing value up 24% year-on-year to £23m, or £13m at share, from 140 deals. Positive leasing spreads maintained: permanent deals signed +61% vs previous passing (+29% excluding nil previous passing rent); net effective rent +10% vs ERV." The share has risen from a low of 360c at the end of September 2022 to a current level of around 675c. At that price, it is trading for about 75% of its net asset value (NAV). It remains a rand hedge.
HMSO trade ideas
HMN: 200-period confluenceA price action above 640 supports a bullish trend direction.
Increase long exposure for a break above 675.
The target price is set at 714.
The stop-loss price is set at 610.
Notice how the 200-day and 200-week simple moving averages act as confluence support.
Remains a risky trade.
HAMMERSON PLC (HMN)JSE-HMN is potentially forming a Double Bottom pattern in a bullish momentum.
Waiting for confirmation with a break above the neckline and confirmed support above R5.29.
Potential target area of R6.89.
Target 1 - R5.89
Target 2 - R6.44
Target 3 - R6.89
Resistance at the Neckline could see it continue the previous down trend.
Take a Long Shot...I stumbled across the Hammerson PLC chart this morning.
After some doodling around a bit, I'm pretty convinced there is "Falling Wedge Pattern" that has emerged.
I would be lying if I'd said I have done any fundamental research on HMN, other than having a look at some of their latest SENS articles (to make sure there are no gremlins lurking).
I did however notice in their news feed, A SENS for Significant improved collection rates, together with Notifications for Major holdings (Morgan Stanley).
All that aside, I have highlighted where I think prices may look to either retest support (after a brief bull run), or ultimately just head higher as per the Falling Wedge pattern price target "theory".
I'm willing to take a long position on this share.
Whether you do is up to you!
Hammerson PlcSo far this morning, property shares have been flashing, hitting highs of the day.
HMN has developed a pennant (~65% complete) where I expect further consolidation before a push toward the upside of the structure.
Entry is a break and close above the trend line ~800c.
Target: +920c - 940c
Stop-loss: 740c
Lots of doubt for the sector (justifiably so) however a gradual (technical) recovery over the last few months (see related J253 idea in February).
HMSO.GB: Bullish Pennant (47%)Bullish Pennant (47%)
Pros:
Volume during post formation
Descending volume during triangle formation
Volume at break out
PPS above 50MA and 200MA
RS above 0
ATR Ascending
R/R ratio above 8
250RSI above 50
200MA ascending
Cons:
RS flat
Target:
PT = 47.76$
Help how ever you can to keep this alive.
Thank you to those who have donated Coins!
Always do your own due dilligence. This is not financial advice
Stay Humble, have fun, make money!
Education:
www.dailyfx.com
HMN Weekly chart Bullish Break HMN established a proper bottom around 330.
*Nice bullish weekly candle developing here on decent volume breaking the down trend.
*Weekly close above 10ema will confirm the long idea. 500 looks to be the level to watch.
*Stochastic indicator is very oversold on the weekly chart.
Possible targets are 800 then 1300
NB!! This is not trading advice, my ideas and opinions...
HMNHammerson Plc | On Friday we saw British Land (BLND) resume it's dividend as the group revealed that the footfall for it's properties were 21% ahead of where management projected it would be. Coming back home to dual-listed Hammerson Plc, we note the price being extended well below it's 200-day simple moving average while attempting to regain the prior support seen at the low of 14 May 2020. Comparing the current level to the prior bounce, we note that the extension at the time being just over 78% below the 200-day, while the current being 62%. An additional encouraging indicator is the RSI which never hit oversold on the recent decline while a break of the downward trend would trigger a buy/long, using a stop of 355c and targets of 528c and 605c.
$JSEHMN HMSO - Hammersons looking for a bottomKeep an eye on Hammersons in the UK (shown chart in London as that is where the primary listing is based - trades on the jse as JSE:HMN. Stock has had 4 months of way above average volume changing hands and the hammer reversal candles in April and May give you the clue that the buyers have fought extremely hard on this one. Spikes in volume like this often lead to major turning points, so for me this is the type of stock you want to put in the bottom drawer as a longer term equity investment..
for the shorter term traders - you would buy at around current levels of 83p, using a stop loss below last months candle low at 72.62. If all goes well the first target should be at around the 200p level (previous swing low before break down) which means this can more than double.. let's see how it transpires, but warning: as this is a monthly chart it can take some time to play out