DHI dominated by bulls lifting the market higher throughout the day
Moving higher for the 2nd day in a row, DHI ended Thursday at 41.39 gaining $0.42 (1.03%). The bulls were in full control today, moving the market higher throughout the whole session. Closing above Wednesday's high at 41.04, D. R. Horton confirms its breakout through the previous session's high having traded $0.58 above it intraday.
Thursday's trading range was $0.73 (1.78%), that's below last trading month's daily average range of $1.28. Things look different on a weekly scale, where volatility is way above the markets average with the monthly volatility being above average.
Prices are trading close to the key resistance level at 41.66.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.
Market Conditions for D. R. Horton
|Close near high of period||TQ Pro Members Only|
|RSI(2) above 80||TQ Pro Members Only|
|Price broke through Technical Resistance R1||TQ Pro Members Only|
|Close to S1 Support||TQ Pro Members Only|
|Bullish Bounce off SMA 20||TQ Pro Members Only|
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