Barratt Developments PLC : A bullish acceleration is expected
Entry price | Target | Stop-loss | Potential |
---|
GBX 426.55 |
GBX 0 |
GBX 396 |
-100% |
---|
Barratts shows a bullish trend since two years and a half.
Fundamental analysis reveals a healthy stock which EPS and revenue have been constantly revised up for the last 12 months (+35% and +15 respectively) for 2014. This positive trend is confirmed by encouraging “Surperformance” ratings for investment and trading. Analyst’s consensus on Barratt is buyer.
As the rising wedge has been broke up, we expect a movement acceleration that allows the equity to quickly reach the GBp 463 target. The positive trend is supported by the 20 and 50-day moving averages orientation. A long position could be taken at current prices level.
For reasons exposed above, investors should buy at current prices having as target the GBp 463 resistance. The stop-loss order is placed below GBp 400. It is important to remark that an earnings release will take place on February 27, 2014.
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