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Can the upcoming results help the stock break its long drawn range? Vistry group stock analysis. 

August 17, 2023
Market
Can the upcoming results help the stock break its long drawn range? Vistry group stock analysis.
  • Vistry group stock has been a highly liquid and volatile stock over the time.
  • The stock has been stuck in a range from last August now.
  • Earnings are expected to come out in september which can lead to a possible big movement in the stock.

Vistry Group, formerly Bovis Homes Group, is a British house-building company based in Kings Hill, England. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index. The company looks highly strong financially as it has seen an increased revenue constantly since the past 4 financial years.

Can the upcoming results help the stock break its long drawn range? Vistry group stock analysis. 

Technical Analysis for the stock- 

Past results have been good and despite that, this stock has not shown the movement investors expected it to show. The current resistance at 854£ looks strong and the stock needs to breach this level if it wishes to attract more buyers. 

The stock saw a sudden dump in June where it touched a low of 622£ but immediately picked up from there with huge buyers entering the stock constantly from that point onwards. The stock is currently resting around 780£ which is not a very strong level so we may say movement either side very soon. 

740£ has acted as a good support for the stock in the recently times and thus as long as the stock does not breach this level, one should not be worried much.

Can the upcoming results help the stock break its long drawn range? Vistry group stock analysis. 

A 1 hour chart shows that the stock is trapped in a very strong zone. This is majorly because markt players are confused as to where to take the stock from this level. Both buyers and sellers are waiting for the right time to jump in and move the prices. 

A big movement is usually expected after the price consolidates this much for such a volatile stock. Indicators do not look sure about the future of the stock. News related events can cause huge price movement in the stock and thus one must keep regular updates for the company.

Analysts predict the stock to be in the same range in upcoming times as well making it sad news for the investors. 

The current zone between 770£ and 815£ must be breached to make any prediction for the stock’s price. Even a small breakout or breakdown buyers it sellers leading it to be a big move. 

Conclusion- 

The stock is at a very crucial stage currently and thus the upcoming days become very important. Both sides have big targets so a 70-80£ movement is possible on either side. Traders must keep a close eye at the stock as big opportunities might turn out for them. For an investor, now is probably not the best time to enter. Waiting for a couple of months so the stock can decide a direction would be advised.

Major technical levels- 

Major support levels- 769£ followed by 720£.

Major resistance levels- 810£ followed by 850£. 

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