Land Securities could regain its upward trend after having run out of steam.

In light of the latest financial statement significant improvements in top lines have been made and guidance for the whole 2015 fiscal year remains stable. The low P/E ratio of only 8 times estimated earnings for 2015 could lure investors willing to open buyer positions on a profitable company. Analysts monitoring the firm agree raised forecasts on their EPS anticipations to £1.13 per share for 2015 and £1.27 per share for 2016.

The stock trades within a long term bullish trend but this trend paused recently as it got into an accumulation phase inside the GBp 1013/1105 trading range. According to weekly data, prices are expected to move higher with the support of moving averages and their positive orientation, forming thus a bullish wave that could reach the GBP 1059 in first place and then the main target of GBp 1105 in a second stage. The bottom line of the rising wedge should keep prices trading inside this range and avoid seller pressure to take the upper hand on Land Securities.

Consequently, going long on Land Securities seems to be smart with GBp 1105 as main target. A stop loss must be placed once the GBp 978 support broke down.