Ibstock - Building momentum brick by brick.

Buy Ibstock ( IBST .L)

Ibstock plc is a United Kingdom-based company, which is engaged in manufacturing of clay bricks and concrete products. The Company's segments are the UK and the US. The Company's principal products include clay bricks, brick components, concrete stone masonry substitutes, concrete fencing, pre-stressed concrete products and concrete rail products.

Market Cap: £1.01Billion

Ibstock shares are trading in a short-term uptrend, which topped out around 265p. The break of resistance at 239p was met with fresh buying interest before profit taking set in. The corrective move lower in recent days has seen the shares retest the breakout level at 239p. A bullish flag / pennant pattern has also formed, which suggests higher price will be seen in the short term. The first target is the resistance at 266p, with the ultimate target up at 305p.

Stop: 235p
Target 1: 266p
Target 2: 275p
Target 3: 305p

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Trade closed: target reached: Boom


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