Stock Chart Analysis DHI

Posted by downtowntrader | 3/31/2008 10:18:00 PM | 0 comments »

Stock Chart Analysis DHI

D.R. Horton, Inc. (Public, NYSE:DHI)

I've been feeling a little bullish towards homebuilders for the past few weeks as they traded sideways while the markets extended their losses. While I wrote about BZH most recently, DHI is also looking like it may move higher as well. It has held well above the early January lows and although it's been volatile, it is trading in an organized manner. The recent trading range may be a continuation base which combined with the recent higher high and low, could signal the beginning of an uptrend. Homebuilders are still toxic in the media, and bad news is still on the way, but unlike financials, the charts are pointing to a possible bottom on them.

Good Trading,


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