GFRD trade ideas
Galliford Try Holdings #GFRD - Currently Under valued #Stock!I expect the descending triangle resistance line will break on the next test, which will give Galliford Try a slight boost - most likely to around 177.62 initially
Galliford Try has recently landed several large contracts which will help on its recovery and help break future resistance lines. For now this stock looks very undervalued and has great growth potential!
May have spotted something with great potentialGFRD - great company, recently sold its house building business to Bovis home which ended the long lasting Hybrid business model.
With over £1M cash in the company and £1B order book and a very much debt free. £1.20 per share is relatively cheap.
Technical wise, trend line resistance level been tested multiple times now and today volume surged and the Bulls won, should be expecting a higher open tomorrow and never too early to bid long.
This is under a great contraction at the moment and should expose soon and needed some good news to trigger. I would want to ideally wait for the break out, but equally, the risk profit level seems attractive enough for me now.
New position in #GFRD for me todayI have been looking at a number of companies that are just outside of my screening criteria including #GFRD which fails on EBITDA margin and its current price relative to its 50 and 200 DMA. I concluded that the recent price drop is largely due to it going ex-dividend concurrent with a general cooling in the markets in the past week or so, on top of the charge it took this year on legacy contracts. Nonetheless, the fundamentals appear strong as does its order book, which was boosted by its recent framework contract wins. Technical indicators appear to show a potential reversal to the upside in what is a contrarian play. I have opened a position at 1168p.