pool adsThe Fundamental Case for Dr Horton #DHI Using a Price Based Model
Traditionally #WallStreet has used #fundamentalanalysis to make #investmentdecisions in #stocks like Dr Horton (NYSE: DHI) but sometimes the most revealing aspect of the fundamental health of a company can be found through an observation of its price action. Price action was used to produce the raw data below for DHI and it can be used as an example of how to use price action to define fundamental opportunity. This data was current at the time of publication, but it is not updated in real time here. If you want real time updates, or data on a different stock, please get one here Unlimited Real Time Reports.
Technical Summary
| Term → | Near | Mid | Long |
|---|---|---|---|
| Rating | Strong | Strong | Strong |
| P1 | 0 | 0 | 80.43 |
| P2 | 98.35 | 99.18 | 88.49 |
| P3 | 100.33 | 103.98 | 96.29 |
Support and Resistance Plot Chart for DHI
Long Term Trading Plans for DHI
May 4, 2021, 10:15 am ET
The Technical Summary and Trading Plans for DHI help you determine where to buy, sell, and set risk controls. The data is best used in conjunction with our Market Analysis and Stock Correlation Filters too, because those help us go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis with this DHI Report.
DHI - (Long) Support Plan
The technical summary data tells us to buy DHI near 96.29, but there is no current upside target from the summary table. In this case we should wait until either an update to the summary table has been made (which usually happens at the beginning of every trading day), or until the position has been stopped. The data does tell us to set a stop loss 96.01 to protect against excessive loss in case the stock begins to move against the trade. 96.29 is the first level of support below 100.85, and by rule, any test of support is a buy signal. In this case, if support 96.29 is being tested, a buy signal would exist.
DHI - (Short) Resistance Plan
NONE .
There are no current resistance levels from the summary table, and therefore there are no Short resistance Plans which tell us to short upon tests of resistance. Resistance levels have broken higher and unless the stock reverses lower and below support levels again short positions look risky.
Blue = Current Price
Red= Resistance
Green = Support
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