Home-Builders Stocks Raise the Roof

This morning, many of the leading home-builder stocks are trading higher after the existing home sales report showed a rise of 3.4 percent in April. One of the leading home-builder stocks that a trader can follow is Toll Brothers Inc (NYSE:TOL). The stocks is trading higher by 0.58 cents to $27.14 a share. Short term traders should watch for intra-day resistance around the $27.50, and $28.00 levels. This is one of the few stocks that is trading above the important daily chart 50, and 200 moving averages. This daily chart formation signals near term strength.

Some other leading home-builder stocks that are trading higher today include Meritage Homes Corporation (NYSE:MTH), The Ryland Group Inc (NYSE:RYL), Lennar Corp (NYSE:LEN), and Hovnanian Enterprises Inc (NYSE:HOV). Traders should note that not all of these home-builder stocks are as strong as Toll Brothers on the daily chart, therefore, traders must follow each individual chart pattern. When TOL stock is trading higher on the trading session most others stocks in the sector will usually be positive.

About Nicholas Santiago 575 Articles

Affiliation: InTheMoneyStocks.com

Nicholas Santiago started trading in 1991. In 1997, he became a licensed Series 7 and 63 registered representative. He managed money for a large, affluent private client group. After applying his knowledge to his client base, he decided it was time to begin teaching those interested in learning his methods. He is an expert in Technical Analysis. He has become an accomplished technician in the studies of Elliot Wave, Gann Theory, Dow Theory and Cycle Theory. In 2007, he partnered with Gareth Soloway to form InTheMoneyStocks.Com and realize his dream of educating others about the truth of the markets.

Visit: InTheMoneyStocks

Be the first to comment

Leave a Reply

Your email address will not be published.