Home-builder Stocks Show Early Relative Strength
This morning, all of the leading home-builder stocks are showing some early strength despite the over-all stock market weakness. This industry group is displaying good intra-day relative strength and could lead the markets higher if bounces take place in the major stock indexes. Lennar Corp (NYSE:LEN) is considered to be one of the leading home-building stocks in the sector. LEN stock is trading higher by 0.65 cents to $29.10 a share. Short term traders should watch for intra-day resistance around the $29.20, and $29.75 levels.
Some of the other leading home-builder stocks that are trading higher today include NVR, Inc. (NYSE:NVR), D.R. Horton, Inc. (NYSE:DHI), M.D.C. Holdings, Inc. (NYSE:MDC), and Toll Brothers, Inc. (NYSE:TOL). This sector has been very strong throughout 2012. As long as interest rates remain at extremely low levels this sector should continues to hold up.