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This is why the market has, probably, bottomed

13:54, 1st December 2023
Justin Waite
Taking Stock
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Taking Stock on Friday 1st December 2023

This is why the market has, probably, bottomed

The house builders are a baromter for the wider economy. Not only because they are probably the biggest purchase a person will make in their life but because this industry supports so many other industries.

So it's worth paying attention to the charts of house builders because if they have bottomed then a lot of the bad news has probably been priced it.

These house builders hit their lows on the following dates:

Barratt Developlments: 29th September 2022

Bellway: 29th September 2022

Redrow: 12th October 2022

Persimmon: 25th October 2022

Taylor Wimpey: 29th September 2022

The Indices Have Hit lows on the following dates:

FTSE 100: 11th October 2022

FTSE 250: 12th October 2022

AIM All Share: 26th October 2022

During the great financial crash the following indices bottomed on the following dates:

FTSE 100: 3rd March 2009

FTSE 250: Friday 21st November 2008

AIM All Share: Friday 5th December 2008

Here's the dates the House Builders Bottomed:

Barratt Developlments: 8th July 2008

Bellway: 2nd July 2008

Redrow: 8th July 2008

Persimmon: 3rd December 2008

Taylor Wimpey: 25th November 2008

Companies mentioned on "Taking Stock" today:

01:55 Barratt Developments #BDEV 
02:00 Bellway #BWY 
02:05 Redrow #RDW 
02:10 Persimmon #PSN 
02:15 Taylor Wimpey #TW.
03:40 Van Elle #VANL 
07:15 Angling Direct #ANG 
08:00 Good Energy #GOOD 
08:20 Destiny Pharma #DEST 
08:25 Molten Ventures #GROW 
10:30 Marula Mining #MARU
11:00 Mind Gym #MIND 
14:40 Crest Nicholson #CRST 
15:50 Ceres Power #CWR 
17:38 Ondo InsurTech #ONDO 
19:35 Kooth #KOO 
19:54 RUA Life Sciences #RUA 
22:05 Sondrel #SND 
24:40 H&T #HAT 
26:00 Billington Holdings #BILN
27:15 Ramadan Holdings #RFX 
27:57 Jet2 #JET2 
29:30 Ingenta #ING 
31:25 Everyman #EMAN 
34:40 London Stock Exchange Group #LSEG 
36:05 Agronomics #ANIC 
36:25 NetScientific #NSCI 

SCREENER

 

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Disclaimer & Declaration of Interest

The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.

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