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....
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
