DHI dominated by bulls lifting the market higher throughout the day


D. R. Horton (DHI) Technical Analysis Report for May 17, 2018 [< 1 min read]
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
ConditionForecastDirectionWinAvgWorstBestEvents
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
More market conditions identified for TQ Pro members...
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Latest Report:

DHI pushes through key resistance level

Jul 16, 2018
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