Taylor Wimpey plc : We anticipate a reversal
By Etienne Veber
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
GBX 111.4 | GBX 0 | GBX 106.6 | -100% |
The fundamentals support the stock with an important upward revision of earnings per share by analysts for the current and next year (respectively +25% et +50% for one year).
Taylor Wimpey is in bullish trend in the medium and long term. In weekly data, moving averages are well-oriented. In the present configuration, the process is very gradual; however, prices have just begun a consolidation phase offering a good entry point near a daily support and a trendline. It could be interesting in the coming sessions in order to benefit from an upward reversal.
Consequently, the GBp 109.3 is good point to buy the stock in order to target a return toward GBp 120. A stop loss can be placed under the GBp 109.3 support.