Home builders look poised to break out. Worth looking at some names like PHM, TMHC, LEN & KBH
Builders build ..and so Am I ..
Housing stocks have emerged as a beneficiary of the coronavirus economy. The U.S. entered the crisis needing more houses. Builders were ramping up construction before the lockdowns, and now most indicators suggest they’ve picked up where they left off. (Unlike many other parts of the economy.) Angst at tight urban living and low interest rates have only added to...
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...
Looks like it could bomb from here. Permits looked ok last week but permits do not mean the thing will be built and considering 20% unemployed in the near future I think you might reconsider moving forward with building new in an already overbuilt environment. I don't think the market it pricing this in at all.
Here is a dual chart showing the weekly chart on top along with the daily chart below. On the weekly chart, you can see how the price has remained within an ascending channel since the Christmas Eve low. The price recently hit and broke through the 61.8% Fibonacci Extension level in early September. The recent pullback has the price sitting right in-between the...
Another 7 years of bull market. Good for commodities, housing, stocks, etc. I think the USD will weaken. TRUMP BUMP!
ITB Homebuilders 3x ETF, weekly chart has more room to run. Daily chart is ready for break out. Inverse H and S . LEN , KBH and DHI all had great earnings reports recently. Above $46.35 would be all time highs. The FED should be cutting rates again with the Oct 4th economic data, so more bullishness for homebuilders. Good luck!
Watching this one.. New highs ? Respecting fib levels well.
The fundamentals for the U.S. Housing market are in terrible shape. More supply than ever before, record low mortgage applications, mortgages getting more expensive to finance and rates continually rising. This sector will continue to fall as the markets correct. Short or Put, this is a solid trade. Happy Trading!
Well, this one broke the long term Monthly trend and the shorter term uptrend last week. Higher interest rates plus tariffs a double negative for new home construction. Now something to keep on the horizon, all the hurricane construction. This sector likely to get a stimulus rebuilding the South East. On the flip side, I don't see Bonds at support yet so there...
Descending triangle breakdown, these patterns repeat over and over. 52-week low
$ITB just broke below support with 2.46x average volume. Its weak, more downside could follow. 12/21 put at $1.17
I saw a flicker of hope for home builders in the May Housing Market Review. Traders decided to snuff that flicker out very quickly afterward. When I wrote June’s housing market review and described a “struggling flicker,” the iShares US Home Construction ETF (ITB) was once again bouncing off the bottom of 2018’s trading range. Almost like a cycle, a month later...