Taylor Wimpey plc : The bullish trend is not over
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
GBX 79.6 | GBX 0 | GBX 74.9 | -100% |
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.