Optimistic about Barratt Redrow's potential
This housebuilder's share price has outperformed rivals in recent times, but how high can it go? Independent analyst Alistair Strang charts its potential.
18th February 2025 07:36
by Alistair Strang from Trends and Targets
Working on the basis the government shall forge ahead with its housebuilding ambitions, it’s certainly likely that existing housebuilders shall reap the rewards.
Barratt Redrow (LSE:BTRW)’s share price has been exhibiting sincere levels of self doubt over the last year, undecided whether to go up or down. With the UK Government's recently stated ambitions, it’s possible the UK’s largest housebuilder shall be able to provide some fairly useful expectations.
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Movement above 479p should trigger price recovery to a tame 506p with our secondary, if beaten, at a future game changing 570p. This effectively dumps the share price into a “higher high” zone which promises an eventual visit to the 700p level, along with almost certain hesitation.
If things intend to go horribly wrong, below 433p looks like it has the potential of triggering reversal to an initial 379p with our secondary, if the initial breaks, at a bottom of 320p.
We are fairly optimistic about this one.
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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