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

By David Diaz

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. Yesterday's price range of $27.29 and $28.32 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. 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.

In the past 52 weeks, shares of Kb Home have traded between a low of $9.82 and a high of $40.51 and closed yesterday at $28.10, which is 186% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 1.7%.

There is potential upside of 13.4% for shares of Kb Home based on a current price of $28.10 and an average consensus analyst price target of $31.87. Kb Home shares should encounter resistance at the 200-day moving average (MA) of $30.55 and support at the 50-day MA of $22.25.

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 am inside day candle KB Home

Ticker(s): KBH