Q: Hammond Power stock seems to have breached the $89 support level Today.
You don't like negative momentum.
Should we sell before losing more money as it looks like that tariff jitters are not going away for a while and next we could see a drop in the backlog, taking the stock a further leg down.
Thank You
You don't like negative momentum.
Should we sell before losing more money as it looks like that tariff jitters are not going away for a while and next we could see a drop in the backlog, taking the stock a further leg down.
Thank You
5i Research Answer:
We would be reluctant to sell into this decline, with is partly fear on tariffs which are not even official yet. The stock is cheap and consensus still calls for very good earnings growth this year ($5.81 to $7.05 expected).