Harvey Norman Holdings Ltd's (ASX: HVN) share price is trending above the 50 and 200 day moving average after lagging for most of the past 12 months.
The integrated retail powerhouse has a long way to go before its share price is back where it was sitting pretty at $5.17 in February 2017, but the trend is definitely on the up.
Harvey Norman found itself back in the top 5 ASX 200 price risers earlier this week, sitting down 1% to cap off January at $4.47.
Harvey Norman trading stats have been unremarkable over the last 12 months, but sector comparisons show things are travelling along steadily in the discretionary spending arena, with JB Hi-Fi Limited (ASX: JBH) sitting happily at $28.61 per share with favourable forecasts for the next 6 months.
Harvey Norman's half-year results are scheduled to be released on February 27 which could give prices another boost.
On the whole Harvey Norman is still a strong buy on fundamentals, with a good PE ratio of 11.2 and a strong team of experienced players who are no doubt bracing for an unavoidable battle against online retail gorilla Amazon.com Inc.
