Taylor Wimpey plc : Benefit from the uptrend
Entry price | Target | Stop-loss | Potential |
---|
GBX 111.3 |
GBX 122 |
GBX 109.9 |
+9.61% |
---|
Taylor Wimpey has still an uptrend and is going toward its highest level.
The company shows strong fundamentals. Firstly, the high valuation of the group shows a great investors confidence in it because there are willing to pay a high price for the stock. Moreover, the consensus revised upward EPS and revenue estimates for this year and that let see a great potential for the security on the stock market.
Technically, the security shows a bullish configuration on all time scales. Prices are supported by increasing moving averages. The 20-day moving average helps the stock to keep its uptrend and should enable it to breakout the GBp 113.8 resistance.
Thanks to these good indicators, it seems relevant to take a long position in Taylor Wimpey above GBp 113.8. The target price is the GBp 122, corresponding to the bullish trend line. A stop loss will be set bellow the 20-day moving average because a breakdown of this level would damage technical pattern.
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