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SAVILLS ORD GBP0.025SAVILLS ORD GBP0.025SAVILLS ORD GBP0.025

SAVILLS ORD GBP0.025

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SAVILLS UK HOUSING MARKET IS MAKING A MASSIVE RISING WEDGEHello Traders, Big rising wedge formation on Savills here with price on the top trend line of the wedge in overbought conditions with bear div on the RSI, it looks like a throw over. Is the UK housing market in a bubble or will the price break the top of the wedge into uncharted territory? Notice the bounce on the 24 year long trendline, I thought that was interesting anyway. Im bearish here based on the chart, but also realise price could break above the wedge. What are your thoughts?
LSE:SVS
by WickHunter
1
The London Housing Bubble, ChartedThis is the weekly chart of Savills PLC, real estate provider. I rarely trade stocks, but sometimes I see an opportunity that piques my interest, because it a) has an interesting chart and b) fits into my fundamental world view. In this case, I believe that housing is over-leveraged, and is 'affordable' only as a result of an artificially low interest rate environment. I especially believe this to be the case in London, which has been subject to an onerous property bubble, which will pop due to simple mean reversion, and Brexit fears. SVS is my go-to vehicle for this trade. SVS has dropped like a stone form a multi-month consolidation, and it now coming into a support zone. A bounce is to be expected. A kiss of the prior consolidation support-turned-resistance would be textbook. I expect a rejection there, or lower, providing a continuation and measured move to long-term support. I am short, and will look to add on a multi-week high.
LSE:SVSShort
by TheRealPeaches
5
Double Top Bearish Breakout "Double Top" chart pattern formed on Savills PLC (SVS:LSE). This bearish signal indicates that the stock price may fall from the close of 887.00 to the range of 837.00 - 848.00. The pattern formed over 32 days which is roughly the period of time in which the target price range may be achieved, according to standard principles of technical analysis. Tells Me: The price seems to have reached a top, after failing to break through a resistance level and ultimately breaking downward in a sign of reversal to a new downtrend. The Double Top pattern forms during an uptrend as the price reaches two distinct peaks at roughly the same price level. Volume reflects a weakening of the upward momentum, tending to diminish as the pattern forms, with some pickup at each high, less on the second high. Finally the price breaks down below the lowest low to confirm the bearish signal.
LSE:SVS
by AMARICAN-X-TRADER