Barratt Developments PLC : The bullish trend continues
By Camille Chretien
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
GBX 329.1 | GBX 0 | GBX 318.5 | -100% |
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 in the stock market.
From a technical viewpoint, the security is trading in a bullish trend in the short and the long term. Prices broken out recently the upper limit of a bullish channel. The 20-day moving average is coming in support and may help the share to reach GBp 350.5.
In consequence, investors can take a long position in Barratt Developments with a first target price at GBp 350.5. A new bullish fluctuation could lead the security toward its highest level in case of breakout of this resistance. A stop loss will be fixed under the GBp 320.9 pivot point.