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Taylor Wimpey (first-half earnings 31 July)
The UK housing market continues to slow, but it does still show signs of healthy growth. Up to the end of April Taylor Wimpey still saw good demand for new housing, and even if the Bank of England (BoE) hikes next week, rates remain near record lows. At just 8.1 times forward earnings, the shares continue to trade on an undemanding multiple.
Taylor Wimpey continues to find support around 170p, as it did in March and April. Further gains above 179p would see the 185p level and then 189p challenged. A close below the 170p support zone brings the 160p low from June last year back into view.
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