• Return to Headlines

Possible Bullish Inside Day Candle Pattern Detected for Dr Horton Inc (NYSE:DHI)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Dr Horton Inc (NYSE:DHI) based on the price action in the company's shares. Yesterday's price range of $52.01 and $52.63 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 Dr Horton Inc may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

In the past 52 weeks, shares of Dr Horton Inc have traded between a low of $32.39 and a high of $53.53 and closed yesterday at $52.29, which is 61% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has risen 0.6%.

D.R. Horton, Inc. constructs and sells single-family homes designed primarily for the entry-level and move-up markets. The Company operates in the Midwest, Mid-Atlantic, Southeast, Southwest, and Western regions of the United States. D.R. Horton also, through its financial services operations, provide mortgage financing and title agency services to homebuyers.

There is potential upside of 4.6% for shares of Dr Horton Inc based on a current price of $52.29 and an average consensus analyst price target of $54.68. The stock should discover initial support at its 50-day moving average (MA) of $50.00 and subsequent support at its 200-day MA of $44.12.

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

Keywords: bullish am inside day candle dr horton inc

Ticker(s): DHI