HMN

Hammerson Plc | On Friday we saw British Land (BLND) resume it's dividend as the group revealed that the footfall for it's properties were 21% ahead of where management projected it would be. Coming back home to dual-listed Hammerson Plc, we note the price being extended well below it's 200-day simple moving average while attempting to regain the prior support seen at the low of 14 May 2020. Comparing the current level to the prior bounce, we note that the extension at the time being just over 78% below the 200-day, while the current being 62%. An additional encouraging indicator is the RSI which never hit oversold on the recent decline while a break of the downward trend would trigger a buy/long, using a stop of 355c and targets of 528c and 605c.