S&P 500 Market Outlook: Bullish
Bullish Trade: DHI $53.67 – Home Builders
The bullish DailyPlay we chose for Thursday, Oct. 17th is DR Horton (DHI). DHI is part of the Home Builders Sector (ITB). ITB has rallied 6.3% over the past month and its 1m and 6m trend turned bullish on August 16th and recently broke out above its $44 resistance level
D.R. Horton’s 1m and 6m trend turned bullish on Sept 17th and just broke above its $53 resistance level. With a technical score of 9 (out of 10), DHI is a strong stock that will likely continue higher.
As a stop loss, if DHI was to trade below $53 for multiple days, this would invalidate our analysis and suggest cutting losses on the trade.
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