Take advantage of the uptrend.

According to Surperformance ratings, the group has strong fundamentals, both in terms of business predictability and valuation. In addition, analysts have recently revised upward their earnings estimates and now expect a profit of GBP 84.7 cts per share for the current year.

Technically, the uptrend in the medium and long term should protect the stock of a major downtrend. In contact with the GBp 1502 resistance, the stock knew a technical correction which led prices towards the GBp 1336 support. Therefore, a rebound will fix an objective near the GBp 1407 short-term resistance.

The decline observed in the short term offers an interesting entry point. Investors will take advantage of the current area to buy Bellway. The objectives will be set at GBp 1407 and by extension GBp 1502. The stop loss will be triggered below the GBp 1336 support.


On 16 August 2013, Surperformance, the 4-Traders' publisher, had a long position of 280 Bellway' stocks bought at GBp 1270 on 10 June 2013