Myer Holdings Limited (MYR:AX) to launch an endless aisle of innovation signing Litmus Labs as an exclusive partner

Myer Holdings Limited (MYR:AX) to launch an endless aisle of innovation signing Litmus Labs as an exclusive partner

Myer Holdings Limited (MYR:AX) to launch an endless aisle of innovation signing Litmus Labs as an exclusive partner

Myer’s General Manager of Home and Entertainment, Dean Austin, along with Dene and Ashley Heath, from LiTMUS Labs, today announced an exciting new partnership, the first of its kind with a Department store, to bring the most innovative home and lifestyles gadgets to Australian customers.

This collaboration will enable Myer customers to shop the latest devices from around the world – creating an endless aisle of the latest lifestyle innovations. LiTMUS Labs prides itself on connecting people to new innovation and, through its partnership with Myer, customers will be able to discover, try and experience, exciting and new brands in physical retail before buying.

LiTMUS Labs create a unique customer experience for the latest innovations from all over the world so that customers can discover, try and buy. LiTMUS Labs will be setting up store-in-store activations at Myer Melbourne, Sydney City, Brisbane City, and Chatswood (NSW) with an ever evolving range of world leading lifestyle products including wanted brands like: Meural, Lumos, Inboard, Master & Dynamic, Mate.bike and NEO Labs.

Each LiTMUS Lab will stock wearable technology, smart home, wellness and beauty, home life, games and toys, audio and sound and, importantly, see it first. LiTMUS LABS staff provide great service, helping you test and experience every new device, or shop and explore through the thirty plus digital tablets at each Lab.

The first LiTMUS Lab will open at Myer Sydney in late August, with other Labs opening following this. Quotes attributable to Myer’s General Manager Home and Entertainment, Dean Austin: “This exciting department store first partnership will ensure Myer is the lifestyle destination for our customers.

We will offer our customers an endless aisle of innovation with products, many of which you can’t purchase anywhere else in Australia. “Through this partnership, we will bring the most innovative home and lifestyles gadgets to our customers.” Quotes attributable to Managing Director of LiTMUS Labs, Dene Heath: “Myer is the perfect fit for LiTMUS Labs as they share our commitment to showcasing to the Australian market innovative products and gadgets from wellness, to sport, to tech.

“We can’t wait to set up our unique customer experience with the latest innovations from all over the world for Myer customers to discover, try and buy. Put simply, if you want it first, you will come to a LiTMUS Lab in a Myer store. “We pride ourselves on bringing the internet to life, and Myer customers will experience something new every time they visit a LiTMUS LAB.”

Myer media contact: Martin Barr – 0418 101 127 – [email protected] LiTMUS Labs

media contact: Dene Heath – 0459 239 173 – [email protected]

Overall, the bias in prices is: Downwards.

Note: this chart shows extraordinary price action to the downside.

The projected upper bound is: 0.57.

The projected lower bound is: 0.51.

The projected closing price is: 0.54.

Candlesticks

A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 4 white candles and 5 black candles for a net of 1 black candles. During the past 50 bars, there have been 19 white candles and 21 black candles for a net of 2 black candles.

Three black candles occurred in the last three days. Although these candles were not big enough to create three black crows, the steady downward pattern is bearish.

Momentum Indicators

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 30.5557. This is not an overbought or oversold reading. The last signal was a buy 13 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 40.28. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 10 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 42. This is not a topping or bottoming area. The last signal was a sell 1 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 10 period(s) ago.

Rex Takasugi – TD Profile

MYER HOLDINGS closed up 0.007 at 0.543. Volume was 98% below average (consolidating) and Bollinger Bands were 82% narrower than normal.

Open High Low Close Volume___
0.545 0.545 0.540 0.543 53,607

Technical Outlook
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bullish

Moving Averages: 10-period     50-period     200-period
Close: 0.54 0.60 0.51
Volatility: 24 35 54
Volume: 1,003,014 1,769,683 2,114,744

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

MYER HOLDINGS is currently 6.4% above its 200-period moving average and is in an downward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future. Our volume indicators reflect moderate flows of volume out of MYR.AX (mildly bearish). Our trend forecasting oscillators are currently bearish on MYR.AX and have had this outlook for the last 52 periods. Our momentum oscillator has set a new 14-period high while the security price has not. This is a bullish divergence.

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