Vistry Group PLC : A steady bullish trend
Entry price | Target | Stop-loss | Potential |
---|
GBX 739.5 |
GBX 800 |
GBX 744 |
+8.18% |
---|
Bovis Homes Group, a national British housebuilder listed on the London Stock Exchange published an encouraging 2012 fiscal year report.
Fundamentally, the group has released strong earnings during 2012 with operating profit up to 56% at GBp 57 million and earning per share of GBp 30.7 up to 75% compared with 2011. The company remains financially healthy with a net cash of GBp 19 million.
From a technical viewpoint, prices are well-oriented for several months. The stock had recently tested the GBp 751 short term resistance before to come back on the GBp 691 pivot point. The stock is now starting again towards the major threshold of GBp 751 and should go through it for coming trading sessions.
Therefore, investors could take a long position in Bovis Homes Group, on crossing of the GBp 751 mid-term resistance in closing prices. The first target will be the GBp 800 level. A stop loss should be placed at GBp 744.
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