The GBp 1055 support area, currently tested, might facilitate a technical rebound.

From a fundamental viewpoint, the company has a valuation in line with the industry as its enterprise value ratios show.
Nonetheless, EPS estimates for the two coming years have been recently revised upward by analysts. This positive fact opens the way for a better evaluation of the security by investors.

Technically, the security fell sharply for several weeks. This fall has lead Persimmon towards the GBp 1055 support area, which could become useful as a stepping stone for a technical rebound. The target of this bullish trend is the GBp 1178 pivot point.

Therefore, the proximity of the GBp 1055 support is an opportunity to take a long position in Persimmon. The first goal is a return in the GBp 1178 pivot point. A stop loss order can be placed under the support currently tested.

On October 8 2013, 4-Traders' team had a long position of 335 Persimmon' stocks, bought at GBp 1083 on September 27 2013.