Vi bruker en rekke cookies for å forsikre oss om at du får den beste brukeropplevelsen. Ved kontinuerlig bruk av denne nettsiden, godtar du bruken vår av cookies. Du kan lese mer om policyen vår for cookies her, eller ved å følge linken nederst på alle sidene på nettstedet vårt.
The year 2012 marked the beginning of a sustained rally in the share price of Wolseley. Since then, however, it has run out of steam, even as the UK house building sector continues to see strong growth.
First-half results should see a steady growth in sales, while investors should look out for continued dividend growth; a strong point for this company, as dividends have risen 30% over the past five years.
Ahead of these figures, we continue to watch the 200-DMA after the steady decline in the shares during March. Having neared recent highs just above £35, we have seen them drop below the 50- and 100-DMA, although they have yet to move into oversold territory.
The February low, just above £32, is the first line of support to watch out for, but the bigger area would be at £31, where the shares found a bottom during December 2013. On the upside, £35-£35.50 is the key area to break and then around £37.40, representing the highs of late 2007 and early 2008.
Wolseley is an interesting one to watch, but so long as the 200-DMA holds (or, at least, does not begin to move lower), the uptrend here is intact.