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February 2, 2010

D.R. Horton Approaching Key Level

Filed under: Stock News — bigdaddy @ 3:48 pm

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. 

3 Comments »

  1. I would sell this stock into rallies.

    Comment by northerninvestor — February 3, 2010 @ 12:51 pm

  2. Housing is still brutal.

    Comment by specialforce — February 4, 2010 @ 11:52 am

  3. I’ll look at it near its 52 week lows.

    Comment by sumo — February 4, 2010 @ 2:19 pm

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