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Sell in May – P6 – Taylor Wimpey
At the other end of the spectrum are three companies that have tended to underperform May to September.
Taylor Wimpey (TW)
Source: CMC Markets, Date: 02.05.2018
Housebuilder Taylor Wimpey has been a stable fixture of the London Stock Exchange for decades, going back to before the 2007 merger of Taylor Woodrow and George Wimpey. Promoted to the UK 100 index in 2014, Taylor Wimpey has had its share of ups and downs through the years. Ove the full 24-year period examined in this report, Taylor Wimpey has seen its share price decline 14 times (42% positive rate), with an average share price loss of 6% May to September, its worst performing period being the summer of 2008 (-58%), at the heights of the US sub-prime collapse and the early days of the financial crisis.
Taylor Wimpey shares have so far lost 7% of their value in 2018 (YTD), but have found potential support around 180p. Will the share price continue rising past long-term support-turned resistance at 195p, or will the current share price rally turn into a bearish double top pattern reversing the shares back to 180p this summer?
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Prepared by Michael van Dulken, Head of Research
