Persimmon (PSN LN) ahead of earnings (2nd Nov)

Tomorrow brings the earnings of UK home builder Persimmon.

UK home builders have performed well in recent times with the UK government backing the housing market with expansion plans. In terms of recent broker recommendations UBS , Credit Suisse and Canaccord have all upgraded to company within the last 4 months.

* The weekly chart is showing bullish hammer candles.
* On the hourly chart we are at a relatively low level.
* On the Daily chart we support at the upward trendline.
* Could see resistance at the downward trendline on the linked chart.
* In regards to Volume the VPOC (Oct) is at around the 1726.13 area, do not be surprised if this is a support level .
* Oct high of 1892.65, Low of 1648.88 and highest amount of contracts exchanged (Value) 1725.30

R4 1648.88
R3 1831.04
R2 1787.93
R1 1735.39
Current 1731.00
S1 1720.63
S2 1648.88
Kind regards

Rajan Dhall MSTA


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