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

By Shiri Gupta

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 $26.75 and $27.04 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.

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.

Kb Home has overhead space with shares priced $26.75, or 16.1% below the average consensus analyst price target of $31.87. Kb Home shares have support at the 50-day moving average (MA) of $26.08 and additional support at the 200-day MA of $23.49.

Over the past year, Kb Home has traded in a range of $16.82 to $27.65 and is now at $26.75, 59% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.3% while the 200-day MA has risen 0.5%.

SmarTrend is tracking the current trend status for Kb Home and will alert subscribers who have KBH in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle KB Home

Ticker(s): KBH