Persimmon could exceed the symbolic threshold of GBp 1778.

From a fundamental viewpoint, the group is in a good financial situation. Sales should increased by more than 10% on the current year, with a net margin of 15.7%.

The security has been in an upward trend for several months. A running out of steam occurred with the contact of the GBp 1778 resistance. This movement is supported by all the daily and weekly moving averages that stopped any bearish inclinations. The stock could stay on the Gbp 1585/1780 trading range but investors should wait for the breakout of this area to open a trade.

In consequence, we could buy the stock once prices are above the GBp 1780 resistance. By the pendulum effect, the target will be around Gbp 1955 and a stop loss will be triggered under GBp 1724.7.