Homebuilders Rally Also

04/27/2009 9:05 am EST

Focus: STOCKS

Thomas Aspray

, Professional Trader & Analyst

chart

The chart of the Dow Homebuilders group shows that it closed on its highs last week and is testing weekly resistance at 270. The group did not make new lows in March, which was a positive sign. There is still major resistance in the 300-350 area, which should limit the upside. Important weekly support is currently at 160.

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