Buy Ibstock (IBST.L)
Ibstock plc is a United Kingdom-based company, which is engaged in manufacturing of clay bricks and concrete products. The Company's segments are the UK and the US. The Company's principal products include clay bricks, brick components, concrete stone masonry substitutes, concrete fencing, pre-stressed concrete products and concrete rail products.
Market Cap: £1.01Billion
Ibstock shares are trading in a short-term uptrend, which topped out around 265p. The break of resistance at 239p was met with fresh buying interest before profit taking set in. The corrective move lower in recent days has seen the shares retest the breakout level at 239p. A bullish flag/pennant pattern has also formed, which suggests higher price will be seen in the short term. The first target is the resistance at 266p, with the ultimate target up at 305p.
Stop: 235p
Target 1: 266p
Target 2: 275p
Target 3: 305p
Interested in UK Stocks?
Join our free Telegram channel for up to date analysis on the best main market opportunities in the UK right now - t.me/UK_Stocks
Ibstock plc is a United Kingdom-based company, which is engaged in manufacturing of clay bricks and concrete products. The Company's segments are the UK and the US. The Company's principal products include clay bricks, brick components, concrete stone masonry substitutes, concrete fencing, pre-stressed concrete products and concrete rail products.
Market Cap: £1.01Billion
Ibstock shares are trading in a short-term uptrend, which topped out around 265p. The break of resistance at 239p was met with fresh buying interest before profit taking set in. The corrective move lower in recent days has seen the shares retest the breakout level at 239p. A bullish flag/pennant pattern has also formed, which suggests higher price will be seen in the short term. The first target is the resistance at 266p, with the ultimate target up at 305p.
Stop: 235p
Target 1: 266p
Target 2: 275p
Target 3: 305p
Interested in UK Stocks?
Join our free Telegram channel for up to date analysis on the best main market opportunities in the UK right now - t.me/UK_Stocks
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