Friday, August 4, 2017

Taylor Wimpey gives a fine bullish signal

Taylor Wimpey stock (LSE:TW.) has given a bullish signal, following the recent pullback that was experienced in the market. Normally the pullback was supposed to be an opportunity to buy long when things are on sale, and in the context of an uptrend.

The ADX period 14 is around the level 20, denoting weak volatility in the market. However, the DM+ is above the DM-, which indicates bull’s supremacy. The MACD, default parameters, has its signal lines and histogram above the zero line. There is a Bullish Confirmation Pattern in the market.

As it was previously mentioned, Taylor Wimpey is expected to resume going upwards, following the recent pullback. Price could thus reach the resistance lines at 195.0 and 200.0 very soon. The resistance lines would even be exceeded as price goes further upwards.

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

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