BLDR on a consistent trend higher Long

Builders FirstSource, Inc.NYSE

Description

⋅ Jun 4, 2023 10:38 PM

BLDR is part of the construction industry and has had consistent gains over YTD in the range

of 95 % with favorable beats on earnings estimates and increases in revenue. Volume has been

rising in the past month. In the past when BLDR pulled back to the blue SMA100 line it then

reversed quite well and resumed its move higher. At present, BLDR is on a pullback which

provides an opportunity for a long entry at the current price where the SMA20 SMA50 and SMA

100 are converged. I will take a long trade here as I see BLDR to be consistent in its move

up and setup for entry with a pullback.

Comments

chris7559

⋅ Jun 5, 2023 12:03 AM

Interesting! I was actually considering selling at the next rally bc it looked like nonresidential construction almost 5x as high and I was nervous hikes may hurt residential more but who knows. I’ll hang on to it for a bit longer as this market seems to be continuing to move up!

AwesomeAvani

⋅ Jun 5, 2023 12:35 AM

@chris7559, I think there is a sector rotation starting up away from tech- this is something to get into IMO; check XLRE and DRN as real estate is picking up and so goes building. Friday ( buy when sellers are collecting weekly profits ) I got DE CAT GE and RTX as part of the sector rotation and SOFI because the student load deferment thing is over with.

chris7559

⋅ Jun 4, 2023 11:36 PM

I’ve been long about a month and might pick up a bit more. Thx for post

AwesomeAvani

⋅ Jun 4, 2023 11:51 PM

@chris7559, YW. I lke the nice linear rise. I have been in NAIL (3X Homebuilder ETF) and it's doing well but trying to deleverage in case the general market takes a down turn. Home construction in my area is ramping up in a huge way so that was the inspiration.