Two housing stocks could be building toward a breakout, traders say

  • 📰 CNBC
  • ⏱ Reading Time:
  • 26 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 72%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

Two housing names could be building toward a breakout, traders say $DHI $MDC (via TradingNation)

There is "a really nice technical pattern here, sort of an inverse head and shoulders. … We're through just at about $48. It's a pretty good jumping off point to see if we can get those highs," Gordon said Thursday on CNBC's "Trading Nation."

"Let's look at the 10-year yield. … We've broken below the 2% level, making new lows there, which is driving housing. The one thing I would say is [there is] a little bit of divergence. You have the ITB not yet at those old highs, so we are playing a little bit of a catch-up here. I think yields need to continue to drop to see buying in housing," Gordon said.

Quint Tatro, founder and president of Joule Financial, agrees it's a good time to break ground on homebuilders.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

TradingNation DRHorton has climbed over 45% this year and equilarinc notes that CEO David V. Auld was awarded $14,738,672 in 2018, indicative of a 43% increase in pay from his 2017 salary. $DHI execpay corpgov

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in CA

Canada Canada Latest News, Canada Canada Headlines