nice starting point..

resistance is futile :-)

Yep usually turns to support.

Bring it on.

Barratt Developments ST: above its upper Bollinger band
26 Apr 2010 - 09:19

Click here to see our chart:
http://www.tradingcentral.com/chart/BDEVGBp100426101746.gif
Our pivot point stands at 128.25.
Our preference: the upside prevails as long as 128.25 is support.
Alternative scenario: the downside breakout of 128.25 would call for 121.75
and 117.75.
Comment: the RSI is above its neutrality area at 50. The MACD is positive and
above its signal line. The configuration is positive. Moreover, the stock is
trading above both its 20 and 50 day MA (standing respectively at 125.63 and
122.32). Finally, Barratt Developments has crossed above its upper daily
Bollinger band (134.7).
Supports and resistances:
157.25 *
153 **
148.75
139.9 last
130.75
128.25 **
121.75 *
---
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Resistance is never futile...

Broker slapped a Buy rating on it late Yesterday, missed it at the time......

Barratt Developments PLC

FORECASTS 2010 2011
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Panmure Gordon
28-04-10 BUY -38.50 -3.58 1.34 0.14

(hemscott premium)

Lovely upgrade from Davy Stockbrokers forecasting EPS of 5.8p going into 2011, thats one heck of an upgrade and it will appeal as Panmure G upgraded yesterday aswell.

Barratt Developments PLC

FORECASTS 2010 2011
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Davy Stockbrokers
28-04-10 None -3.50 5.80

(hemscott premium)

Interim Mangement Statement.

Highlights



For the six months to 30 June 2010 average selling price is expected to increase by around 15% on the prior year equivalent period (at least 10% for the full financial year), largely due to mix changes

The Group is on track to deliver a profit (Note 1) for the second half (2009: 63.5m loss)

Net private reservations per active site for the IMS period up 4% on the prior year and up 14% on the first half

Total forward sales up 32% on prior year at 1,073.3m

Continuing to acquire land at attractive values, with terms agreed on 447.8m of land equating to 12,286 plots since mid 2009

Net debt as at 30 June 2010 is anticipated to be around 500m, below previous guidance due to the deferral of land payments

bought these and TW a week ago and at the mo wish I hadn't... going to be slow progress.

bdev sp now hitting what could be a very difficult hurdle where 25+50 dma coincide

Barratt Developments plc

Notice of Trading Update

Barratt Developments plc will be issuing a trading update for the full year
ended 30 June 2010, at 7am on Wednesday 14 July 2010.

a comparsion chart ...... BDEV and TW. have follwed each other step for step, while RMV (green) has outperformed easily

Trading Update.

Highlights


Total completions (Note 1) of 11,377 for the full year in-line with guidance, with 6,324 completions delivered in the second half


Average selling price up by c.11% for the full year to c. 174k and by c.18% in the second half on the prior year equivalent period, mainly due to changes in mix


Net private reservations up 4.2% for the full year at 0.50 per week per active site


Forward sales up by 27% to 591.7m as at 30 June 2010


Operating profit (Note 2) of at least 85m for the full year, ahead of expectations, resulting in a full year operating margin (Note 3) of at least 4%, and a second half operating margin of at least 5.5%


Net debt of c. 375m as at 30 June 2010, significantly lower than previous guidance

Final Results.

Highlights

Net private reservations up 4.2% for the full year at 0.50 per active site per week.

Total completions, including joint ventures, were 11,377 (2009: 13,277).

Average selling price (excluding joint ventures) up by 10.9% for the full year to 174,300 (2009: 157,200) and by 17.8% in the second half on the prior year equivalent period mainly due to changes in mix.

Profit from operations before operating exceptional items was 90.1m (2009: 34.2m) at a full year operating margin of 4.4% (2009: 1.5%), with the second half operating margin at 5.9% (2009: 1.8%).

Loss before tax and exceptional items of 33.0m (2009: 144.1m) with a profit before tax and exceptional items of 15.5m in the second half. Loss before tax for the year of 162.9m (2009: 678.9m).

Agreed terms on 527.2m of land purchases (equivalent to 13,359 plots) since re-entering the land market in mid-2009.

Net debt reduced by 910.0m since 30 June 2009 to 366.9m (2009: 1,276.9m).

Tangible net assets, excluding intangible assets, per share 208p (net assets per share 300p).

Forward sales at 30 June 2010 were up by 27% at 591.7m (2009: 464.3m) representing 3,889 plots (2009: 3,328 plots). At 5 September 2010 forward sales had increased to 847.1m (2009: 696.3m).

Over the 10 weeks since the financial year end net private reservations have averaged 0.48 per active site per week (2009: 0.51). Cancellation rates have remained low at an average of 11.0% (2009: 12.3%) for the year to date.

Looking at 90p.

Nobody loves the builders and thats for sure!

LOOKS LIKE A GOOD RECOVERY SITUATION TO ME -
NET TANGIBLE ASSETS PRESENTLY ABOUT 2 QUID A SHARE
SMALL CAPITALISATION, AND NOT EXCESSIVE DEBT NOW.
IF NOT FIRST TIME BUYERS, EXISTING HOME OWNERS ARE ALWAYS IN THE MARKET FOR A CHANGE OF HOUSE.

PROBABLY WORTH KEEPING AN EYE ON, ESPECIALLY IF THE ECONOMY DOES NOT WEAKEN FURTHER AND ALSO IN ANTICIPATION OF A POSSIBLE SPRING TIME IMPROVEMENT IN BUILDERS SHARE PRICES.
ALSO BROKERS TARGET PRICES MUCH HIGHER THAN CURRENT 90P

ANY COMMENTS - DO YOU AGREE OR DISAGREE ?

I'll only get back in when I see genuine interest in the builders again which I guess won't happen till we know for sure that a double dip won't happen. As confidence returns then the builders will rise along with the housing market.

Deutsche Bank says it's not all doom and gloom as the sector is currently pricing in a double-dip in house pricing, that's a 13 per cent decline year-on-year. Unlikely. But through 2013 it expects housebuilders to show a rapid increase in profitability driven by the contribution of new higher margin developments.

Deutsche favours those companies that bought new development land at rock bottom prices. Indeed, Deutsche's pre-tax profit estimates for the sector remain 10 per cent to 15 per cent ahead of consensus 2011-12 forecasts and it sees upside in market expectations and strong value in the sector.

Deutsche favours those companies that bought new development land at rock bottom prices. Its top picks are Barratt Developments, 2.45p easier at 90.8p, Bovis Homes, 8.7p off at 363.7p, and Taylor Wimpey 0.63p cheaper at 26.05p.

2013 is a long way (economically speaking) off. "Bought land at rock bottom prices" so prices can't go lower?

Lots of buys at end of day.