D.R. Horton Approaching Key Level
Homebuilder D.R. Horton’s stock surged close to 13% to $13.29 on much better than expected results. Instead of registering a loss, the company posted a profit, thanks to favorable conditions for purchasing a home. For DHI stock to go higher, it needs to break major resistance at $13.90 or its 52 week high. If this level is broken, the upside targets are $15.50 and $18. Key support levels are $11.20, its 50 day and 200 day moving averages, and $9.80. The fate of DHI is ultimately tied to the health of the U.S. consumer. If a new high cannot be made, the stock will probably settle into a trading range of Between $10 to $14.
I would sell this stock into rallies.
Comment by northerninvestor — February 3, 2010 @ 12:51 pm
Housing is still brutal.
Comment by specialforce — February 4, 2010 @ 11:52 am
I’ll look at it near its 52 week lows.
Comment by sumo — February 4, 2010 @ 2:19 pm