Bullish DailyPlay for Wednesday Feb 1st, 2017 – Pulte Group (PHM)
The bullish DailyPlay we chose for Wednesday Feb 1st is Pulte Group (PHM). PHM is part of the Consumer Discretionary Sector (XLY). Over the last month, XLY has experienced a 3.34% move higher and its 1m and 6m trend has turned bullish on 1/6 and recently broke above its $84 resistance level.
Pulte Group’s 1m and 6m trends turned bullish on 1/24 and recently broke above its $20 resistance level on high volume. With a technical score of 6 (out of 10), PHM looks positioned to continue this strong bullish trend higher.
As a stop loss, if PHM was to trade below $20 for multiple days, this would invalidate our analysis and suggest getting out of the trade.