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WH Smith - Reverse H&S? (SMWH)     

grahamsteel1974 - 21 Aug 2003 13:22

New kid on the block here -

Am I correct to say that WH Smith's chart is forming into a reverse head & shoulders?

I make the head 240, 1st shoulder @ 380, height 140. I make potential breakout at about 420 therefore a promising target of 560?????

Does anyone agree or should I keep working on those books?

There's an e-beer in it for all if I am correct.

brianboru - 24 Nov 2003 23:08 - 3 of 3

I've been in and out of WHS a couple of times. There's more to them than just high street DVD shops - strong cash flow and a nice wholesale business for a start - I'm out at the moment but I think there is a possibility that if Xmas is crap for them and the share price falls further they will be taken out by someone.
That said I would only pick them up at around 300p or lower when the yield then becomes worthwhile.
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