Bellway plc’s Big Gap Up Today Points to Less Stock Risks


 Bellway plc's Big Gap Up Today Points to Less Stock Risks

The stock of Bellway plc (LON:BWY) gapped up by GBX 16 today and has GBX 3403.52 target or 37.00% above today’s GBX 2484.32 share price. The 6 months technical chart setup indicates low risk for the GBX 3.05 billion company. The gap was reported on Oct, 19 by If the GBX 3403.52 price target is reached, the company will be worth GBX 1.13 billion more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. The stock increased 4.12% or GBX 98.32 on October 19, hitting GBX 2484.32. About 1.09 million shares traded hands or 142.18% up from the average. Bellway plc (LON:BWY) has declined 2.27% since March 22, 2016 and is downtrending. It has underperformed by 7.81% the S&P500.

Bellway plc (LON:BWY) Ratings Coverage

Out of 19 analysts covering Bellway PLC (LON:BWY), 15 rate it a “Buy”, 1 “Sell”, while 3 “Hold”. This means 79% are positive. Bellway PLC has been the topic of 123 analyst reports since July 24, 2015 according to StockzIntelligence Inc. Citigroup maintained it with “Buy” rating and GBX 3030 target price in Wednesday, March 23 report. Deutsche Bank maintained Bellway plc (LON:BWY) on Friday, September 2 with “Hold” rating. The firm has “Hold” rating given on Wednesday, February 24 by Deutsche Bank. The firm has “Hold” rating given on Friday, January 8 by Peel Hunt. The company was maintained on Monday, July 4 by Deutsche Bank. On Wednesday, March 23 the stock rating was maintained by Deutsche Bank with “Hold”. The stock has “Hold” rating given by Deutsche Bank on Thursday, January 21. Peel Hunt maintained the stock with “Hold” rating in Wednesday, February 10 report. The rating was maintained by Numis Securities with “Add” on Tuesday, March 22. The company was maintained on Wednesday, December 16 by Liberum Capital.

More recent Bellway plc (LON:BWY) news were published by: Fool.Co.Uk which released: “Is it wise to flee Barratt Developments plc, Bellway plc, Bovis Homes Group …” on June 24, 2016. Also Fool.Co.Uk published the news titled: “Why I’m avoiding Persimmon plc, Taylor Wimpey plc and Bellway plc” on June 30, 2016. Fool.Co.Uk‘s news article titled: “Bellway plc, Interserve plc & Virgin Money Holdings (UK) plc still show huge …” with publication date: June 27, 2016 was also an interesting one.

Bellway p.l.c. is a United Kingdom-based holding company, owning subsidiary undertakings, which is engaged principally in housebuilding in the United Kingdom. The company has a market cap of 3.05 billion GBP. The Firm provides a range of house types, including one, two and three bedroom apartments; terraced homes; three storey homes; semi-detached homes, and three, four and five-bedroom detached homes. It has a 7.57 P/E ratio. The Company’s reportable segment is UK housebuilding.

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