Taylor Wimpey plc : The bullish trend is not over
February 26, 2013 at 03:34 pm IST
By
Entry price | Target | Stop-loss | Potential |
---|
GBX 79.6 |
GBX 0 |
GBX 74.9 |
-100% |
---|
Taylor Wimpey could reach its GBp 84.2 resistance.
The company shows strong fundamentals. Firstly, the high valuation of the group shows a great investors confidence in it because there are ready to pay a high price for the stock. Moreover, the consensus revised upward EPS estimates for this year and that let see a great potential for the security on the stock market.
Technical patterns are in the green: prices are up for several months. The reversal should continue in the coming trading sessions. The 20-day moving average should help to reach the GBp 84.2 long term resistance.
In consequence, investors can take a long position in Taylor Wimpey with a first target price at GBp 84.2. This level is the long term resistance. A new bullish fluctuation could lead the security toward GBp 95.2 resistance in case of breakout of this level. A stop loss will be fixed under the entry point.
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