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.