What does Beacon Lighting Ltd do?
Beacon Lighting Ltd [ASX:BLX] is Australia’s leading specialist retailer of lighting, ceiling fans and light globes.
The business services the middle to upper residential lighting market and has a network of 88 stores across each State and Territory and four commercial sales offices. 75 stores are Company operated and 13 are franchised stores.
Anyway, what is the chart telling us?
What does the chart look like?
I find it helpful to bring up a chart. Here’s the daily chart of BLX.
Now threatening to break the March high and move into all-time new highs.
What now for the Beacon Lighting share price?
The first half results for FY 2015 revealed record sales and profits; my opinion is that good results will continue for the second half. But don’t rely on opinions, mine or otherwise. The market will in fact tell you about results for the second half of the financial year.
Now this is something we can watch for: if BLX should make a significant break over the prior top, then that tells you in advance of the press releases that sales are improving. If sales are improving in discretionary items like this, then more broadly that’s telling you the economy may not be as weak as many report. Let’s wait and see.
Start to look at the economy this way, through the charts, rather than reading the financial press. Your investment understanding will go up a gear when you do so.
You can get more knowledge on reading the charts and the economy here.
Research Analyst, Cycles, Trends and Forecasts