JD Sports Fashion Share Price Forecast September 2021 – Time to Buy JD Stock?
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The holiday season is almost here and for shareholders and investors that means it is time to dip into opportunities that would perform well throughout the New Year. A trader’s portfolio requires assessment at the moment to pick some of the most promising market leaders that shine specifically during the holiday season.
As COVID-19 induced lockdowns and restrictions are being eased with time across the globe where recovery rates seem to be promising. There is a good chance that markets will be observing open and crowded shops ahead of the holiday season. JD Sports is among these profitable market opportunities that are supposed to do well in the coming days. Let us determine whether it is smart to buy JD right now or not?
JD Sports Fashion – Technical Analysis
This company serves as an active fashion retailer which is famous for its sports fashion wear, outdoor clothing, and related equipment. JD Sports has been a trusted brand for outdoor and sports fashion items since it was established in 1981 in UK’s Bury. One look at the company’s financial data reveals that JD topped the gainer’s list yesterday when it closed at 1,151 adding around 120 points with a 9.72% uptick. JD Sports’ total market capitalisation reached £10.82 billion and the company is seeing £2.93 billion in gross profit currently. The sports fashion company’s total debt amount is around £2 billion while the total assets being handled by JD Sports is close to £5.1 billion.
If we consider the technical aspects surrounding JD Sports shares then we get to see a strong buy zone building up for interested market participants. A total of 17 different technical indicators that technical experts rely upon are hinting towards buying JD shares currently. These indicators include popular moving averages like SMA (1051.1), EMA (1055.6), and oscillators like MACD (32.9) and RSI (82.0).
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Recent Developments
On September 14th, JD shares did not only become one of the top gainers in the global share markets but the company shared record earnings and impressive first-half profit to its shareholders in its earnings report. According to the report, after the lockdowns and other restrictions were taken down across the UK, JD Sports stores have seen a record number of shoppers.
The next earnings report from the sports fashion retail company is scheduled to come out on January 29th, 2021. Even though the company admits that most of its sales and global supply chain movements were limited due to disruptions caused by COVID-19 and Brexit, but JD Sports intends to catch up ahead of the holiday season.
JD Sports has been in the headlines for its continuous advancements associated with expansion for quite a few years. JD Sports fashion has experienced growing demand for its outdoor and sports-related fashion items due to the popularity of comfortable athletic clothing. JD’s earnings before taxes rose to £439.5 million in the last year.
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Although JD Sports has withheld its interim dividend in the recent earnings report a company spokesperson stated that they are considering paying a larger final dividend based on their overall performance.
The company is cautious in suspicions of a Christmas lockdown and the state of supply challenges in countries other than the UK, but yesterday JD proved that the trading scenario would continue to encourage shareholders before Christmas as usual.
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