Buy Bellway (BWY.L) Bellway plc is a major UK residential property developer based in Newcastle upon Tyne. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index. Market Cap: £3.9Billion The medium-term trend is bullish on Bellway. The shares have corrected lower in recent weeks and appears to have found some support at 3125p....
Descending triangle top formation completed on BWY weekly charts, support broken
Looking at BWY for a potential long. Price has shown strong volume/support at the 34.10 area, this coincides with the 50ma and the .5 fib. RSI and STOCH oversold at 34.10 Entry on strong break of todays high. TP 1: 38.00 TP 2: 40.00 SL: 32