Barratt Developments shares boosted by cautious optimism
Nicolas Suiffet September 2, 2020 9:28 AM
Barratt Developments, a residential property development company, posted full-year profit before tax dropped 45.9% on year to 492 million pounds on revenue of 3.42 billion pounds, down 28.2%.
Barratt Developments, a residential property development company, posted full-year profit before tax dropped 45.9% on year to 492 million pounds on revenue of 3.42 billion pounds, down 28.2%. The company proposed a dividend of 39.4p per share, down from 73.2p per share in the prior year.
From a chartist’s point of view, the stock price remains stuck in low volatile trading range since May 2020. Bollinger bands are narrowing indicating a lack of momentum in the short term. The medium term trend remains bearish as long as the key resistance zone 611.2p – 645p is not bypassed. A slight recovery cannot be ruled out. Readers may want to consider the potential for opening short positions below the resistance zone 611.2p – 645p with 450p and 380p as targets. Alternatively, a push above the congestion zone 611.2 – 645 would call for a reversal up trend and would open a path to see 800p.
Source: GAIN Capital, TradingView
Disclaimer: The information on this web site is not targeted at the general public of any particular country. It is not intended for distribution to residents in any country where such distribution or use would contravene any local law or regulatory requirement. The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on our analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions.
Futures, Options on Futures, Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Losses can exceed your deposits. Increasing leverage increases risk. Spot Gold and Silver contracts are not subject to regulation under the U.S. Commodity Exchange Act. Contracts for Difference (CFDs) are not available for US residents. Before deciding to trade forex and commodity futures, you should carefully consider your financial objectives, level of experience and risk appetite. Any opinions, news, research, analyses, prices or other information contained herein is intended as general information about the subject matter covered and is provided with the understanding that we do not provide any investment, legal, or tax advice. You should consult with appropriate counsel or other advisors on all investment, legal, or tax matters. References to Forex.com or GAIN Capital refer to GAIN Capital Holdings Inc. and its subsidiaries. Please read Characteristics and Risks of Standardized Options.