Bellway's share price was heavily penalized and is now in an oversold situation near to a solid support area.
According to Surperformance rating, the company is an opportunity for a trading strategy. Indeed, it is a good compromise between its value and its visibility.
Moreover, brokers have lately revised upward their revenues and EPS estimates for 2013 and 2014.
Bellway is oversold and is near to GBp 1261 support, which also correspond to a bullish trend line. This situation gives credit to a potential technical rebound. Thus, the stock could find new energy and would rise towards the next GBp 1371 resistance.
Thanks to the technical pattern and Bellway’s strong fundamentals, active investors can take a long position above GBp 1261. The downside potential is limited and the timing seems perfect to benefit from a technical rebound.
The goals will be fixed at GBp 1371 in a first time and then at GBp 1487.
However, a stop loss should be placed bellow the 1227 support.
On 27 September 2013, 4-Traders' team had a long position of 280 Bellway' stocks, in its European Portfolio, bought at GBp 1270 on 10 June 2013.
Bellway p.l.c. is a United Kingdom-based home construction company engaged in the building and selling of homes, ranging from one-bedroom apartments up to six-bedroom family homes, as well as providing social housing-to-housing associations. The Company operates into approximately 21 divisions, covering centers across England, Scotland and Wales. The Company's brands include Bellway, Ashberry brand and Bellway London. Bellway brand is engaged in building quality homes in selected locations inspired by the needs of families. Ashberry brand is used on larger sites, where the site layout and market demand justify two selling outlets. The Bellway London brand covers all their developments in London boroughs and commuter towns. Its properties range from one-bedroom apartments to four-bedroom houses. The Company's subsidiaries include Bellway Homes Limited, Bellway Housing Trust Limited, Bellway Properties Limited, Bellway (Services) Limited and Litrose Investments Limited.
BELLWAY P.L.C. 
