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SmarTrend Watching for Potential Pullback in Shares of DR Horton After 1.98% Gain

By Nick Russo

DR Horton (NYSE:DHI) traded in a range yesterday that spanned from a low of $28.89 to a high of $29.42. Yesterday, the shares gained 2.0%, which took the trading range above the 3-day high of $29.30 on volume of 1.5 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend recommended that its subscribers protect gains by selling shares of DR Horton on August 4th, 2016 by issuing a Downtrend alert when the shares were trading at $32.06. Since that call, shares of DR Horton have fallen 10.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

In the past 52 weeks, DR Horton share prices have been bracketed by a low of $22.97 and a high of $34.56 and are now at $29.39, 28% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.1% while the 200-day MA has risen 0.2%.

Keywords: rebounders DR Horton

Ticker(s): DHI