• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Dr Horton Inc (NYSE:DHI)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Dr Horton Inc (NYSE:DHI) based on the price action in the company's shares. Today's price range of $42.49 and $43.09 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Dr Horton Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Dr Horton Inc has overhead space with shares priced $42.79, or 21.8% below the average consensus analyst price target of $54.68. Dr Horton Inc shares should encounter resistance at the 200-day moving average (MA) of $45.20 and support at the 50-day MA of $42.12.

D.R. Horton, Inc. constructs and sells single-family homes designed primarily for the entry-level and move-up markets. The Company operates in the Midwest, Mid-Atlantic, Southeast, Southwest, and Western regions of the United States. D.R. Horton also, through its financial services operations, provide mortgage financing and title agency services to homebuyers.

In the past 52 weeks, Dr Horton Inc share prices have been bracketed by a low of $34.95 and a high of $53.32 and are now at $42.79, 22% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.3%.

SmarTrend is tracking the current trend status for Dr Horton Inc and will alert subscribers who have DHI in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle dr horton inc

Ticker(s): DHI