• Return to Headlines

Possible Bullish Inside Day Candle Pattern Detected for Beazer Homes Usa (NYSE:BZH)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Beazer Homes Usa (NYSE:BZH) based on the price action in the company's shares. Yesterday's price range of $11.52 and $11.77 is within the prior day'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. Traders and investors interested in shares of Beazer Homes Usa may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Beazer Homes USA, Inc. designs, builds, and sells single family homes in the Southeast, Southwest, and South Central regions of the United States. The Company's homes are designed to appeal to entry-level and first move-up home buyers.

Beazer Homes Usa has overhead space with shares priced $11.75, or 38.2% below the average consensus analyst price target of $19.00. The stock should run into initial resistance at its 200-day moving average (MA) of $11.86 and subsequent resistance at its 50-day MA of $12.09.

In the past 52 weeks, Beazer Homes Usa share prices have been bracketed by a low of $8.16 and a high of $17.46 and closed yesterday at $11.75, 44% above that low price. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has slid 0.5%.

SmarTrend recommended that subscribers consider buying shares of Beazer Homes Usa on November 13th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $10.31. Since that recommendation, shares of Beazer Homes Usa have risen 11.7%. We continue to monitor BZH for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish am inside day candle beazer homes usa

Ticker(s): BZH