Barratt Redrow shares and some game-changing potential
With the merger of two major housebuilders now completed, independent analyst Alistair Strang looks at what the future might hold for shares in this FTSE 100 company.
17th October 2024 07:17
by Alistair Strang from Trends and Targets
With Barratt finally taking over Redrow and delisting Barclays Developments from the market place, the replacement listing of the merged company Barratt Redrow (LSE:BTRW) is showing some interesting potentials for the future.
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From a near-term perspective, apparently above 517p should trigger convincing movement to an initial 573p with our secondary, if bettered, at a game-changing potential of 602p.
Our reasoning for describing such a target as game changing is fairly simple, it affords the share price the chance to move above a series of prior highs, making the potential of a long term 699p a viable ambition.
For everything to go horribly wrong, the share needs to break below Red at 445p, entering a zone where a cycle down to 320p becomes possible.
Source: Trends and Targets. Past performance is not a guide to future performance.
Alistair Strang has led high-profile and "top secret" software projects since the late 1970s and won the original John Logie Baird Award for inventors and innovators. After the financial crash, he wanted to know "how it worked" with a view to mimicking existing trading formulas and predicting what was coming next. His results speak for themselves as he continually refines the methodology.
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