PHM breaks below previous session low


Pulte Homes Inc. (PHM) Technical Analysis Report for Aug 10, 2018 [< 1 min read]
Highlights
PHM closes lower for the 2nd day in a row
PHM breaks below previous session low
TQ Sentiment
Report Sentiment: 40% Bearish
Technical Forecast:
Overview

Moving lower for the 2nd day in a row, PHM ended the week 0.35% higher at 28.74 after losing $0.59 (-2.01%) today. Closing below Thursday's low at 29.25, Pulte Homes confirms its breakout through the previous session's low having traded $0.76 below it intraday.

Daily chart for PHM
Volatility

Friday's trading range was $0.63 (2.16%), that's slightly below last trading month's daily average range of $0.78. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly above average.

Support/Resistance

Prices are trading close to a key support level at 28.46. Prices are trading close to the key resistance level at 29.18.

Trend

Though the share is experiencing a short-term up trend, this could just be a correction, as both the medium and long term trends are still in negative territory.

Order Flow

Selling might accelerate should prices move below the nearby swing low at 28.11 where further sell stops could get triggered. With prices trading close to this year's low at 27.55, downside momentum might speed up should the stock break out to new lows for the year.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being slightly bearish.

Market Conditions for Pulte Homes Inc.
Condition Forecast Direction Win Avg Worst Best Events
Close to R1 Resistance TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Gap Up TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
Close to Swing Low TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

PHM pushes through prior session high

Aug 16, 2018
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