Possibly has reached C but would be nice to have confirmation. If this is at C then stop would go under C. Tucking it away where Mr. Market does not find it on a simple pull back can be a smart move if you plan to hang.
Today's candle pattern is a Harami cross which may represent indecision, but can also represent a reversal but needs a third day for...
Buy Long: PulteGroup Inc - Ticker: PHM - Sector(s): Consumer Cyclical Industry: Residential Construction
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Buy Entry: 52.71 to 53.87
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The price is at a crucial support area which is also backed up by the 50MA, the 38 Fibonacci retracement and a multimonth trendline. The trade can be entered when the reversal candle at 57,01$ is confirmed. The stop should be placed at 53$. If the support area does not hold an entry at around 50$ can be considered as it has provided a significant support area in...
Nice break out of a short term downward resistance line in what is an overall bullish channel backed by supporting home and building data out of the US. If we can settle above $47 I think we see $55 area.
I have noted tons of rising narrowing wedges in the market since the craziness started..
I have also noticed they can win over an ascending triangle just about everytime!
Too much buying sent almost every stock in the home building sector in to a down spin..
I am sure it will recover and this is just one example..DHI, LEN, MTH etc all suffered the consequences...
I have posted PHM earlier but a rising wedge has taken form
Rising wedges are usually bearish
PHM has fallen from the bottom trendline of the RW, and hopefully the handle low will catch it
Not a recommendation
Neutral until fall complete
MDC and KBH, LEN, DHI and MTH all have their own RWs they are falling from
(I hate RWs) LOL
There for a while it seemed...