Short term view - PERSIMMON PLC : The 38% retracement has been reached.
In our previous short term analysis (13/10/2016), we were positive.We remain positive with a target at 1893 p and an invalidation level at 1662 p.
Prices evolve within a trading range.
Arguments :
- The major support is close.
- The 38% retracement has been reached.
-...
Persimmon is a holding company, engaged in house building, constructing a range of homes across England, Scotland and Wales. Co. trades under the brand names of: Persimmon Homes, which delivers a range of new homes from apartments to large family homes throughout the U.K.; Charles Church, which complements Persimmon by delivering executive housing in premium locations across the U.K.; Westbury Partnerships, which focuses on affordable social housing. Co. sells these homes to housing associations across the U.K.; and Space4, which operates an offsite manufacturing plant producing insulated wall panels and roof cassettes as a fabric first solution to the construction of new homes.
DayByDay is an independent research company providing global macro and single stock analysis, recommendation and allocation based purely on behavioural finance methods. Those include long term cycle analysis, sentiment analysis, and technical trigger. DayByDay serves all clients in need of practical and precise publications to make effective market decisions, on any time horizon, from a few hours to a few years.
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