Home-builder Stocks Try To Build A Foundation
Most of the leading home-builder stocks are trading higher this morning. The home-builder stocks have been some of the top market leaders since the October 4, 2011 low pivot in the major indexes. The SPDR Home-builder ETF (NYSEARCA:XHB) remains in an uptrend at this time. The XHB continues to trade above the important daily chart 50 moving average which is a sign of strength.
Toll Brothers Inc (NYSE:TOL) is the leading home-builder stock in the market. This morning, this leading stock is trading higher by 0.32 cents to $23.07 a share. The stock should have short term intra-day resistance around the $23.31, and $23.50 levels.
Other leading home-builder stocks that are trading higher today include Lennar Corp (NYSE:LEN), KB Home (NYSE:KBH), and Meritage Homes Corporation (NYSE:MTH). All of these stocks continue to hold up well on the daily chart at this time. Should these stocks close below the important daily chart 50 moving average it would be a warning sign that the recent rally in this sector is coming to an end.