XHB trying to make a strong push today and SITE has shown some recent strength against the index as well. Could we see more from this landscaping company?
XHB broke through an important 77.5 low volume node today and TPX has just been on fire. You might be asking how a mattress company and homebuilders are correlated well I'm playing it as a proxy and potentially one that could outperform the homebuilder index in general. You gotta have mattress for those homes :)
Housing market is looking pretty toppy. Would suggest holding off on buying a home for a few months.. Supply is greatly starting to outpace demand.
{repost from my blog which includes screenshots and charts} Housing Market Intro and Summary The Spring selling season looked like it started strong for new home sales. The data for April reveal a story evolving differently. Absolute inventories rose for both existing and new homes and yet sales declined. Housing starts also suffered a setback. Median prices of...
A couple of indicators are showing divergence for the past week or so, as HD has melted up choppily. It needs some relief and is being sustained by erstwhile investors scrambling for a safe investment in a volatile bond market when the banks can't be counted on to manage their risk. I'd suspect that this could continue a little bit, but within the next week or so...
Whirlpool showing extreme bearish divergence in multiple mid-term timeframes on multiple indicators. Semiconductors used in Microwaves and Appliances are infamously unavailable, and this is sure to affect whirlpool's outlooks despite favorable macroeconomic conditions and stock rotation. The entire sector related to homebuilders is due for a drawback, and despite...
Bull Case: Technically: 1. AO divergence 2. Stoch oversold 3. Vol spike 4. Consolidation / Accumulation between 20-21 Fundamentally: 5. Forward P/E 11 6. 60% institutional ownership (croweded?) Last Earnings results: -Closed origination volume up 122% year-over-year to a record $89.0 billion -Increased GAAP net income 506% year-over-year to $3.0 billion -Announces...
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The homebuilder sector etf was up .75% on friday, despite rest of market being red. BZH has rising channel on daily, resistance would be $14.44 in this channel. Over 4000 $14 calls sitting in OI for 10/16. Fibonacci .618 is $15.4. Everything is dependant on Trumps health. Happy trading
$LEN Bullish Descending Megaphone $LEN has formed a beautiful descending broadening wedge or descending megaphone into its earnings report Monday after close. This pattern retested previous highs and bounced, showing support on a perfect retest of $71.30. First target is previous highs around $79.50 which I am looking for Monday into Earnings. I am looking to...
$XHB Homebuilders ETF - Nearing Breakout Level to watch is $49.22 - a close today above this level is bullish for the near term. Target: $54-$56 by early September (assumes close today above resistance)
Homebuilders have been behaving well in a channel since the market low of march 23rd. Tuesday after memorial day was the first break out of the channel, and today's participation continues to give the sector a more positive view. Next tested resistance which is all time highs around $49.5 Next strong support is the 200sma (red line) RSI is taking us to...
Have a great day all!
Think we ultimately go higher but for the next 6 months I'm bearish new homes.
homebuilder index struggling, watching for a breakdown here. $XHB
making a strong bearish candle on the weekly. just need some more volume $XRE $XHB