The Berkeley Group Holdings plc : The bullish trend could open new tops
December 27, 2013 at 02:44 pm IST
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Share
BUY
Conditionne
Live
Entry price
Target
Stop-loss
Potential
GBX 2,537
GBX 2,844
GBX 2,460
+12.1%
Berkeley could cross its GBp 2563 resistance to reach new tops in the coming sessions.
The company shows strong fundamentals. The high valuation of the group shows a great investors confidence. Moreover, the consensus revised upward EPS estimates for this year. For 2014, this EPS consensus gained 17% for the past 12 months and that let see a great potential for the security on the stock market.
From a technical viewpoint, the security is trading in a bullish trend in the short and the long term. Increasing moving averages let think there will be no reversal in the coming trading sessions. This growth should help to cross soon the GBp 2563 long term resistance.
Therefore, taking into account the strong fundamentals and technical patterns, it seems opportune to take a long position at the crossing of the GBp 2563 resistance in order to benefit from a new upward potential. The target price will be GBp 2844 (swing effect). A stop loss will be placed under the 20-day moving average.
The Berkeley Group Holdings plc is a United Kingdom-based company engaged in building homes and neighborhoods across London, Birmingham, and the South of England. The Company and its subsidiaries are engaged in residential-led, mixed-use property development. The Company specializes in brownfield regeneration, reviving underused land to create sustainable and nature-rich places. The Company's portfolio of developments includes Sunningdale Park, Sunninghill Square, Bankside Gardens, Berkeley Place, Abbey Barn Park, Hareshill Crookham Village, Hartland Village, Knights Quarter, Hertford Locks, The Arches, The Eight Gardens, Farmstead at Tannersbrook, Hildenborough, Holborough Lakes, Foal Hurst Green, Hollyfields, Grand Union, Prince Of Wales Drive, Camden Goods Yard, South Quay Plaza, Chelsea Creek, Beaufort Park, Filmworks Ealing, Woodberry Down, Fulham Reach and others. The Companyâs brands include Berkeley, St Edward, St George, St James, St Joseph, and St William.