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AVJ - AVJennings Limited

RichKid

PlanYourTrade > TradeYourPlan
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Someone mentioned they were after a long term chart of AVJ (or was that just the data??). Last price as of Thur 26 May around 2.30/3pm.

I've posted the chart as best I could. BTW, does anyone know how to copy/save chart images for editing via the new Protrader2 platform from Comsec??
 

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Re: AVJ AV Jennings- TA Chart

I really like the way this one is moving

PE 16 ish and FF yield of 6% ish

Technically the price and volume action last fortnight is encouraging
 

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Re: AVJ AV Jennings- TA Chart

I can see the point about the technicals, but I really don't like the fundamentals of the house building industry (but of course trade price and not opinion...).

Just too many empty houses around here (Hobart) and the words "motivated vendor", "priced to sell" and even "price reduced" are appearing in for sale listings with increasing frequency.

That doesn't sound at all bullish to me but it's mixed according to the socio-economic status of the area.

High income - house prices seem to be holding up with no visible signs of trouble.

Upper middle - flat but "priced to sell" etc is appearing and the inventory of houses for sale has risen noticeably.

Lower middle - even 20 year olds with no interest in the market are telling me that "prices have come down".

Lower - the cheapest properties seem to be listed about 10% lower than they were and, more to the point, there's little difference between these areas and comparable properties in the lower middle area category which suggests ongoing price pressure.

As far as I can tell, it's worse in Sydney and other areas such as Melbourne and Adelaide now look rather similar to where Hobart was a year or so ago with flattening prices and claims that prices won't fall. And there's increasing reports of sharp house price falls in the US (more like a crash than a gentle fall judging by the rapid pace of the falls) and the UK market also seems to have rolled over.

So I'm not at all bullish on property prices but of course that doesn't mean AVJ can't rise. Trade price and not opinion IMO if you're trading short term looking at charts. I'm just sounding a word of caution about the longer term based on what I've seen in the market in which they operate...
 
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Re: AVJ AV Jennings- TA Chart

i seen that big 16 per and thats the highest its been as even pre boom and during th eboom the per was much lower but then again they had a fair bit of cash in retained earnings so that might be why the dividend is still being paid at the percentage that it is.

check out the AJ Lucas chart AJL dutchy and post it under AJL thread if you like as it might be worth a look at if you could??
 
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Re: AVJ - AV Jennings - TA Chart

Looks like a classic cup & handle pattern - maybe someone else would be as kind as to confirm that (or not). But today's close of 65c is its highest since Sept 2008 so the market must think it is presently doing something right.
 
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