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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 $27.15 and $27.15 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.

There is potential upside of 29.1% for shares of Pultegroup Inc based on a current price of $27.15 and an average consensus analyst price target of $35.06. The stock should find initial support at its 50-day moving average (MA) of $27.13 and further support at its 200-day MA of $27.02.

In the past 52 weeks, shares of Pultegroup Inc have traded between a low of $20.64 and a high of $33.04 and are now at $27.15, which is 32% above that low price. The 200-day and 50-day moving averages have moved 0.22% lower and 0.43% lower over the past week, respectively.

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.

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