SUM - Summerset Group

[bull....]

Maybe one of the TA specialists could have a look ... but I think it did break out today of its wedge (and into the right direction - which would be a great sign for things to come!

im looking for a price around mar/april tops as resistance for me.

[Beagle]

All time high was about $5.60 in September 2016. I'm looking at that price as the long term resistance level. Any break above $5.70 on good volume would be a strong BUY signal for me.

[winner69]

Meanwhile Ryman hits $10.63 and is up 16% since a fortnight ago, that's very impressive for a boring, big cap, blue chip stock. PS-My ratio remains intact Mr Beagle.

Even as Ryman falls back to $10.48 your ratio essentially remains intact

Spooky eh possums .......must be a rational reason

[Beagle]

https://www.nbr.co.nz/article/no-sig...reat-sl-210772

[BlackPeter]

https://www.nbr.co.nz/article/no-sig...reat-sl-210772

Makes sense .... same number of people looking for houses as before the elections and not enough houses (talk alone does not build houses).

The market still works ...

[tipsy]

https://www.nbr.co.nz/article/no-sig...reat-sl-210772

Hmmm, from their own figures sales are down 20% from Nov 16, median price down 4%, while listings are up.

[Beagle]

Hmmm, from their own figures sales are down 20% from Nov 16.

Sale volumes are down, that's not news and has been that way for months but I think prices are holding up just fine.

[value_investor]

When is the next announcement due? That's a pretty solid increase in this steady growth share for a day.
Had a look, looks like early January, first week or 2. I am imagining something good is brewing. That's a really good 60c gain for those recently buying in around the $4.70! (I didn't). Sure wish I had cash for that.

At a PE of just 5 moving up to around a PE of 6 its actually not a big move in terms of valuation. Its more of a move to fair value from being undervalued. Still slightly undervalued I think at its price but depends on how you look at it.

Most mutual fund managers and kiwisaver managers need to report to their clients on short term basis mostly quarterly or yearly basis. A company that probably won't see any meaningful profit number or dividend for another few years is just no good.

[Beagle]

https://www.interest.co.nz/property/...pared-year-ago

My forecast model at the start of this year assumed flat house prices in Auckland and 3% growth on average in the rest of N.Z.
Actual results are substantially better. Worth noting that the vast majority of SUM's villages are located outside of Auckland.

[bull....]

i was hoping it might go to previous highs early in the yr , couldnt stay above that 5.25 resistance oh well time to wait for the lows again in the range