Summerset Group Holdings Limited (SUM.NZX)

23 January 2019

Technical Summary: The SUM fundamental story that you are no doubt familiar with is reflected in the five year chart that has moved from the bottom left of the screen to the top right in a relatively orderly fashion. This is until the last few months where along with the rest of the market the stock has pulled back sharply. The drop originated with a base failure that was confirmed by a sharp move below the 50 day moving average. The question here is whether this signifies a change in character for the stock or if the pullback is buyable. For now at least the stock appears to have found some sort of support. Look frow this to consolidate into a base and be patient if attempting to time an opportunity into the stock.

Another classic pullback or downtrend situation?

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