Trade brewing at Halfords?

Halfords

From a near-term perspective, it starts to appear something viable is about to happen with Halfords. Perhaps it's due to Summer approaching, along with the perceived need to buy cycles.

Near-term, there's a pretty good chance that placing an order to 'buy' if the price reaches 427p makes sense, with a 'sell' position at 432p. The share has been exhibiting the potential for the 430s for a few days now and it appears the spike down is about to force some movement.

Longer-term, there's a heck of a strong argument favouring 445p on the immediate price cycle - this obviously places one's patience at risk unless the company is planning the release of positive news.

A stop position needs be at 411p if chasing our 432p, or wider at 400p if trying for the 445p thing. In reality, we suspect any stop can be as tight as you want for the jump from 426 to 432 - it is a small trade but looks fairly sane!

This article is for information and discussion purposes only and does not form a recommendation to invest or otherwise. The value of an investment may fall. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser.

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