MLHR
MLHR - DAILY CHART Hi, today we are going to talk about Herman Miller and its current landscape.
Herman Miller is poised to receive increasing attention from the market as relevant events are taking place. The American company that produces office furniture, equipment, and home furnishings issued worse than expected sales results for its second quarter, Herman Miller, also unveiled EPS guidance for its third quarter below estimates. The pessimist context for the company was attributed to lower than anticipated order levels due to uncertain caused by the geopolitical environment.
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MLHR Strong Move June 27, 2019It just broke above its major resistance and bull channel's resistance with high volume. It could keep moving up straight or probably go back to its new support at $40 before continuing its upward move. But if today's closing price is same with the opening price (showing a strong rejection), probably it could be a strong sign that the stock price has failed to establish the bull trend and then would go downward.
Sep 20 Earnings - Herman Miller Remains Under InvestedThe company is facing a tough market environment with changing dynamics and stiff competition.
Unlike some of its peers, the company has not yet put enough effort into revamping its products.
The company is putting efforts into reducing costs but that only goes so far to improve sales guidance.
Going into earnings, I believe the company is fairly to slightly overvalued.
I give the company a $31 PT for the next 2-3 months.
