Update 18th January 2023
I doubt anyone is following this and it’s not financial advice anyway but I just dumped pretty much all of my Taylor Wimpey stock after reading this thread on twitter
I know the UK is not the USA but you never know and I’ve had a decent run
Original post continues below.
Anyone not living under a rock knows this company as a UK housebuilder.
Today I’m interested to see what happens when the share price breaks below 95p (yellow support line on the above chart). This is because, if the price does come crashing down again, it is not clear where the next support level is.
Obviously, with all the noise regarding UK interest rates at the moment, this is not good news for house prices and this is reflected in the TW share price.
However, 95p is below the bottom set (98p) after SARS-CoV-2 hit.
Is the macro situation now much worse than this?
I don’t think so; and people will always need houses.
I’m going to buy some more below 95p. 🙂
PS. This is not financial advice.