LFPB trade ideas
Travis Perkins - Supplying profits and building accounts?Buy Travis Perkins (TPK.L)
Travis Perkins plc is a United Kingdom-based product supplier to the building, construction and home improvement markets. The Company operates through segments, which include General Merchanting, Plumbing & Heating, Contracts and Consumer.
Market Cap: £4.07Billion
Travis Perkins has completed an inverse head and shoulders bottom pattern on the weekly chart as prices advanced above 1495p. The shares gapped higher on the outcome of the general election in the UK, rising sharply towards 1841p. The shares have consolidated in recent weeks to close the gap created at 1544.5p and we have now seen a break higher from a wedge pattern. This suggests there will be a continuation higher in price over the coming days and weeks.
Stop: 1495p
Target 1: 1830p
Target 2: 2000p
Target 3: 2330p
