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Possible Bearish Inside Day Candle Pattern Detected for Pultegroup Inc (NYSE:PHM)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Pultegroup Inc (NYSE:PHM) based on the price action in the company's shares. Today's price range of $30.28 and $30.76 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 Pultegroup Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

PulteGroup Inc. sells and constructs homes, and purchases, develops, and sells residential land and develops active adult communities. The Company also provides mortgage financing, title insurance, and other services to home buyers. PulteGroup has operations in various markets across the United States and Puerto Rico.

In the past 52 weeks, Pultegroup Inc share prices have been bracketed by a low of $23.81 and a high of $35.21 and are now at $30.45, 28% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has remained constant.

There is potential upside of 15.2% for shares of Pultegroup Inc based on a current price of $30.45 and an average consensus analyst price target of $35.06. Pultegroup Inc shares should encounter resistance at the 200-day moving average (MA) of $30.63 and support at the 50-day MA of $30.06.

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

Keywords: bearish inside day candle pultegroup inc

Ticker(s): PHM