Indexes turning bearish at least in the short term so its time to find a suitable short.
And so KBH here appears to be completing an ABC retracement that if correct will see it go much lower.
Plenty to go on:
Its hit the 1:1 .
Its printed a probable exhaustion gap.
Its formed a fast wicked top SRP through the 1:1.
Its filled a gap from 9 June.
...
Earning: 6/22/2022 2.32, Surprise 0.28
Gap and Run, 30 days into Supply Zone
Short 32
Stop 34
Target 25
Risk management is much more important than a good entry point.
I am not a PRO trader.
In my trading plan, the Max Risk of each short term trade should be less than 1% of an account.
KBH here didnt quite get a fill to short at resistance but now breaking through trendlines and printing and H&S.
Indexes turning bearish.
Staggering into short positions.
Not advice.
trendline break
Entry 41.8
Stop 39.8
Target 50
Risk management is much more important than a good entry point.
I am not a PRO trader.
In my trading plan, the Max Risk of each short term trade should be less than 1% of an account.
Looks like a Bullish Gartley pattern as well.
The AB retracement leg should be .618 of XA. The CD leg should be a .786 retracement of XA, or close for a bullish Gartley pattern.
Possible stop under first or last bottom, or under D. The first bottom (blue star) is not a deep bottom and appears to be part of a smaller pull back.
Falling wedges can be bullish...
Fundamentals
My trading algorithm doubled down on KB Home today due to a substantial increase in Wall Street consensus earnings forecasts. I estimate that forward P/E on the stock is about 5, and forward P/S is about 0.6. (But note that my forecasts are more optimistic than the Street consensus, which currently puts forward P/E at 6.7.) I estimate that KBH will...
Hello traders, KB HOME is in a fake bearish configuration with a large selling volume especially in the last quarter of an hour of the session. On the TIMEFRAME 1 Min we see a rejection of buyers on a purchase volume, it is going to its next low point. Then start again in its rise, big potential to break the zone of equilibrium, to reach another zone. And go to...
KB Home engages in selling and building a variety of new homes. It builds various types of homes, including attached and detached single-family homes, townhomes, and condominiums. The firm operates through the following segments: West Coast, Southwest, Central, and Southeast. It offer homes in development communities, at urban in-fill locations and as part of mixed-use projects. The company was founded in 1957 and is headquartered in Los Angeles, CA.
NYSE
