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Possible Bearish Inside Day Candle Pattern Detected for Kb Home (NYSE:KBH)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Kb Home (NYSE:KBH) based on the price action in the company's shares. Today's price range of $37.44 and $38.16 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 Kb Home may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

In the past 52 weeks, Kb Home share prices have been bracketed by a low of $14.01 and a high of $38.80 and are now at $37.59, 168% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 1.3%.

Kb Home (NYSE:KBH) is currently priced 31.2% above its average consensus analyst price target of $25.88. The stock should discover initial support at its 50-day moving average (MA) of $13.72 and subsequent support at its 200-day MA of $13.37.

KB Home builds single-family homes in the United States, primarily targeting first-time and first move-up homebuyers. The Company has operating divisions in Arizona, California, Colorado, Florida, Georgia, Illinois, Nevada, Wisconsin, New Mexico, North and South Carolina, and Texas in the United States. KB Home also derives income from mortgage banking, title, and insurance services.

SmarTrend recommended that subscribers consider buying shares of Kb Home on September 29th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $23.82. Since that recommendation, shares of Kb Home have risen 62.0%. We continue to monitor KBH for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle KB Home

Ticker(s): KBH