Summerset Group Holdings Limited (SUM.NZX)

9 May 2018

Technical Summary: Over the last 5 years the stock of SUM has rewarded holders with a long term uptrend that has found its way to new highs unabated. More recently the stock has moved strongly out of a long consolidation period to all time highs. The stock became a bit overextended and is now looking to consolidate its previous gains in a new base. It is impressive that the stock has
largely been able to hold on to these gains. It is consolidating constructively, this suggests that there is strong buying support for the stock. It will be interesting to see if this buying support can overcome the sellers that may be liquidating their positions for a profit. Traders can wait until this supply has dwindled and look to buy when the stock moves out of this consolidation period.

Powerful move from a stock that has been on a long-term trend

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