NEW BULLISH Plays
DR Horton Inc. - DHI - close: 24.14 change: +0.43
Stop Loss: 23.25
Current Gain/Loss: unopened
Entry on February -- at $--.--
Listed on February 25, 2014
Time Frame: 6 to 8 weeks
Average Daily Volume = 8.0 million
New Positions: Yes, see below
Why We Like It:
There has been a parade of negative housing data over the past few weeks and yet many of the homebuilding stocks act bulletproof. Plunging housing starts, falling homebuilder confidence, declining sales of existing homes and a drop in home prices have not been able to crack the homebuilder stocks.
Shares of DHI are actually rising and breaking out past short-term resistance near $24.00. The believe is that real estate will see a big bounce back when the weather warms up. Today's high was $24.24. I am suggesting a trigger to open bullish positions at $24.35. If triggered our multi-week target is $27.50.
Trigger @ $24.35
Suggested Position: buy DHI stock @ (trigger)
- (or for more adventurous traders, try this option) -
Buy the Apr $25 call (DHI1419D25) current ask $0.89