Bellway could rebound on the GBp 1837 support in the short term.

The fundamental qualities of the group are clearly attractive as evidenced by the upward revisions of earnings per share and revenue estimations. The profitability of the company's business remains good.

Technically, the share has a bullish configuration on all time scales. Prices are supported by increasing moving averages as shown by the 20-period, in weekly data, and enclose the stock in a dynamic upward trend. However, the stock has recently known a little decrease which led prices on the short term support at GBp 1837. This support is legitimates by the 50-hour moving average and could allow a rebound toward the GBp 1952 resistance.

As shown bellow, investors can open a long position on current prices in order to reach the GBp 1952 resistance. A stop loss should be set below the level currently tested.

At the publication date, the company Surperformance, 4-traders.com editors, has a position of 300 shares, bought at GBp 1528