The consolidation in the shares of a homebuilder and brownfield land developer looks like coming to an end. The fundamentals certainly support a chart break-out as the shares are trading on a modest premium to book value even though land is in the books at cost, so assets are being very conservatively valued in the accounts. Factor in the rise in land and house prices in the past few years, and a rating of 12 times forward earnings, and an attractive progressive dividend policy."
The shares have traded in a tight range between 42p and 51p since late October. In so doing, the 200-day moving average has now caught up with the share price and it appears from my lens that the shares are in the process of making a successful test of the long-term trend line....."
All looking good to break 51p resistance level we have had now for sometime.
Been looking at these for a while now. Very undervalued in my opinion, but I am reluctant to take anything out of WSG to get in here. I know a little bit about them, which I am not wanting to put here. Will get an email from SFU so I can mail you.
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