KBH Home Reports, However, Home Builders Look Stretched
This morning most of the home builder stocks are all trading higher after KB Home(NYSE:KBH) reported earning. One can really toss up a coin and decide for themselves if the report was a positive or a negative. Sometimes investors can only wonder what type of accounting is used to derive at the numbers that some of these companies report. KB Home is trading higher by 0.30 cents to $12.00 a share. The stock has traded slightly off the high of the day. KB Home will have intra-day support at the $11.75 and $11.50 levels. The daily chart of KB Home should have very good resistance around the $12.50 level should it somehow trade higher.
Other leading home builder stocks that are trading higher are Toll Brothers Inc.(NYSE:TOL), Lennar Corp.(NYSE:LEN), and D.R. Horton Inc.(NYSE:DHI). These stock are all trading higher by about 2.0 percent on the session. However, all of these home-builder stocks look to have daily chart resistance slightly higher from current levels.