JB HIFI (JBH) – “short squeezes” into EOFY
Stock
JBH HiFi (JBH) $23.86 as at 24/05/2018Event
JBH HIFI (JBH) has maintained a short position between 15 and 16% since February. The journey’s been a volatile one for the traders, but a profit guidance downgrade earlier in the month would have settled many of the bears nerves, however the stock remains up almost 5% over the last 12-months. We note that the Australian Retail Index usually recovers very well from around 10-days into June, like the telco’s a touch earlier than the overall index + looking at the trend in the US overnight, consumer discretionary stocks saw some big gains. As we suggested last week, we are watching the retailers closely.Market Matters Take/Outlook
- JBH is messy from a technical level but we would consider a trading position if it experiences weakness below $22 in the next 2-3 weeks.
ASX200 Retail Index Seasonality Chart
