Not So Hostile for Hammerson (HMSO)

Hostile bid rumours surrounding Hammerson are one thing, the shares being bombed out near the lows of the year may be more meritworthy.

Interestingly enough, there has been a spurt for the stock this morning. Technically, we are bouncing off the floor of a bullish falling wedge pattern, with the prospect of a break of the 50 day moving average at 364p and the top of the wedge leading to 400p plus. Clearly, new lows for the year under 320p would not fit the scenario.

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Author: Zak Mir

Financial commentator, interviewer, technical analyst

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