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Home / Support and Resistance / McCarthy & Stone (MCS.L) 22-11-19

This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.

McCarthy & Stone (MCS.L) 22-11-19

Will McCarthy & Stone (MCS.L) fall beyond the 135p support level, or will we see a retest of 158p? (+15%)

 

  • The stock is near support at 135p, now trading at 136.6p (at time of writing).
  • Whilst the past does not always repeat itself, the support level has held up well.
  • From here, will buying pressure return to drive the price back to 158p? (+15%).
  • As always, be aware of news and events that can change the market’s perception of value – this can lead to key levels being broken.
  • Shares -14% from 12-month highs; +10% from 12 month lows.

Latest News

07 Nov:  Jefferies International reiterates its buy rating on McCarthy Stone Plc (MCS) and reduced the target price to 166p (from 175p).

07 Nov:  McCarthy & Stone, the UK developer and retirement property manager, has announced that revenue for the year is anticipated to be £720m for the 14-months to the end of October.

25 Oct:  UBS reiterates its sell rating on McCarthy Stone Plc (MCS) and increased the target price to 130p (from 125p).

27 Sep:  Jefferies International reiterates its buy rating on McCarthy Stone Plc (MCS) and increased the target price to 175p (from 149p).

04 Sep:  Deutsche Bank today initiates coverage of McCarthy Stone Plc (MCS) with a hold rating and target price of 137p.

12 Aug:  Rowan Baker, Executive Director, bought 1,319 shares in the firm on the 8th August 2019 at a price of 136.50p. This Director currently has 16,449 shares.

31 Jul:  McCarthy & Stone announced it had finished its partnership with Somerset Care in its 92 ‘extra-care’ developments.

Source: Bloomberg, Reuters, Alpha Terminal, FT, DJ Newswires

 

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