Taylor Wimpey plc : Supported by upward revisions
By Alexis Peyrard
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
GBX 107.27 | GBX 120 | GBX 100.15 | +11.87% |
Technically, the stock price fell sharply following the consolidation movement on the construction sector. The equity has rebounded when touching the GBp 101 support line. Considering the group’s strong fundamentals and the good perspectives on the business activities, this reversal movement could accelerate launching the stock back on its bullish trend.
Therefore, a long position could be taken at the current price targeting acceleration towards GBp 120. Nonetheless, a stop loss will be placed under the entry point to protect from a renewed downtrend.