Kaufman And Broad few encouraging signals to return to the real estate sector
Analysis published on Tuesday, June 6, 2023
The current phase is not really conducive to the real estate development sector between rising interest rates and increasing standards through the soaring cost of materials, it’s a lot to digest. At the same time, the long-awaited government plan for real estate has given birth to a mouse and the sum of small measures it includes will not really be a “game changer”.
From a fundamental point of view, there is therefore a risk of being on the verge of waiting for a few months and when visibility is not looking good. Technically it’s a bit the same pattern since the title came to stick close to a support line, around €25.35 and there is no real sign of a bullish reversal for the moment.
We note rather the weakness of the technical indicators with moving averages still oriented downwards and transaction volumes without particular relief. We believe that the low point has not been made on the file, despite valuation ratios which are not very tight. A final phase of “sell off” could lead to a depression of the support of €25.35 which we consider as the last level of alert.
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