If indexes go lower then Homebuilder stocks are going to get smashed. Rising interest rates do this sector 0 favours.
Anyhow here's a tasty short setup.
BZH has had a double top bounce to first print a star candle then an evening star candle formation shakeout reversal patterns through the log 0.618 retracement from the previous high.
In addition there is a tunnel gap connected through both tops and there is another very large gap below - that means this is a very unstable bounce.
If this is a major pivot BZH has a DEEP fall ahead.
Easy when you know how... 🧐
Not advice.
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This whole sideways drift has been nothing but corrective topping patterns forming a bearish ascending wedge waiting for the axe to fall.
Now it has fallen below the 4H 50MA it shouldn't be too long before that big gap gets filled as indexes move down.
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Down we go, that big gap is coming in a hurry now 😼