Sell Barratt Developments - Walls closing in on house builders?

Sell Barratt Developments ( BDEV )

Barratt Developments PLC is a holding company. The Company is principally engaged in acquiring and developing land, planning, designing, and constructing residential property developments and selling the homes, which it builds throughout Britain.

Market Cap: £5.24Billion

Barratts share price has stalled at resistance around 555p, which coincides with a 38.2% Fibonacci level. The shares also posted a bearish outside candle on the 30th April 2020, which has contained the advances in recent days. It looks like we are about to see a close below a wedge pattern on the daily chart , which could trigger further selling in the short term.

Entry: 500-535p
Stop: 577p
Target 1: 435p
Target 2: 385p
Target 3: 350p

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I am relatively new to this, what platform do you use to short this? ideally i would like to only play the LONG GAME but it seems that might be loosing some opportunities
+2 Reply
Charlieab94 virtualtechie11
@virtualtechie11, look at CMC Markets
virtualtechie11 Charlieab94
@Charlieab94, dangerious
Hey, thanks for sharing the analysis. I've been tracking UK home builders too, especially considering the difficulties associated with stalled developments and the like. They correlate well, so you may want to short a selection of them to spread the risk. Keep me posted on the projected short sale!
+2 Reply
I love your analysis man, everytime I see them I know what not to do ahah
+1 Reply
most likely 590 plus soon
+1 Reply
Certainly one to watch here - the UK finanical environment is precarious: Recession bound with a broken mortgage market.

Technically, its showing some resistance off the support - just need to wait it out a bit :)
+1 Reply
I like the look of this!
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