PulteGroup, Inc., through its subsidiaries, engages in homebuilding
and financial services businesses primarily in the United States. The
company's Homebuilding segment is involved in the acquisition and
development of land primarily for residential purposes within the United
States; and the construction of housing on such lands. This segment
offers various home designs, including single-family detached,
townhouses, condominiums, and duplexes under the Pulte Homes, Del Webb,
and Centex names. As of December 31, 2012, this segment had
approximately 670 active communities. Its Financial Services segment
engages in mortgage banking and title operations. This segment arranges
financing through the origination of mortgage loans primarily for
homebuyers; sells such loans and related servicing rights; and provides
title insurance policies as an agent, as well as examination and closing
services to homebuyers. The company was formerly known as Pulte Homes,
Inc. and changed its name to PulteGroup, Inc. in March 2010.
To review potential trading opportunities with Pulte's stock, please
take a look at the 1-year chart of PHM (PulteGroup, Inc.) below with my
added notations:
After rallying nicely from its June low, PHM has formed what may be a
double top price pattern (blue). Double tops are reversal patterns and
are as simple as they sound: Rallying up to a point (T), selling off to a
support, and then rallying back up again to approximately the same top
(T). As with any price pattern, a confirmation of the pattern is needed.
PHM would confirm its pattern by breaking the $18 support (red) that
has been created by the double top pattern.
The Tale of the Tape: PHM should be moving lower if
it confirms its double top pattern. A short trade could be made on a
break of support with a stop placed above the level. However, a trader
could also go long at $18 as well if they believ PHM is simply
consolidating.
Please share this article
No comments:
Post a Comment