The UK Needs MORE Homes - So Construction Stocks Breakout ?We all know the UK needs more houses, and that the ones already built are waaay unaffordable.
The scramble to move house in 2021 corresponded with a big rally for building and construction stocks in 2021, admittedly alongside a lot of other parts of the UK stock market.
That rally retraced by exactly 61.8% (Fibonacci) in 2022 and STOPPED FALLING.
Since then its been meandering sideways about 100p from 680 to 780.
This hasn't bee all that interesting - it's a consolidation period.
BUT.. potentially, big players are quietly stepping in - it's what we call accumulation.
We think that if UB320 The FTSE 350 Construction and Materials sector closes over 785, then we want to own the top names in that index for a new period of more obvious strength.
This sector holds these 7 stocks, ordered by 1 year performance.
Kier Group (+67%)
CRH (+60%)
Genuit Group (+28%)
Keller (+4.5%)
Ibstock PLC (-1.7%)
Balfour Beatty (-9.43%)
Marshalls (-12.69%)
We like to buy strength. What do you think?
