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Barratt can rediscover pre-Brexit highs if it breaks current range

UK housebuilder Barratt Developments PLC (LON:BDEV) can rediscover its pre-Brexit highs of almost £6 if it breaks above the £5.20 mark, so says technical analyst.

“There was a dip in the wake of the referendum vote in June. Since then [we’ve had] a slow recovery back towards the 200-day moving average around the £4.80 level,” Mir explains in the latest Proactive Investors Bulletin Board.

“Basically, one’s looking for a break of the recent £4.50 to £5.20 range to take us back to where we were before Brexit.”

Quick facts: Barratt Developments

Price: 658.6 GBX

LSE:BDEV
Market: LSE
Market Cap: £6.71 billion
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