DHI dominated by bulls lifting the market higher throughout the day

D. R. Horton (DHI) Technical Analysis Report for May 17, 2018

Highlights

DHI dominated by bulls lifting the market higher throughout the day
DHI closes higher for the 2nd day in a row
DHI pushes through previous session high

TQ Sentiment

Report Sentiment:
50% Bullish
Technical Forecast:

Overview

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.

Daily chart for DHI

Volatility

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.

Support/Resistance

Prices are trading close to the key resistance level at 41.66.

Trend

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.

Conclusion

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

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