Homebuilders Testing Major Resistance

01/08/2010 2:54 pm EST

Focus: STRATEGIES

Thomas Aspray

, Professional Trader & Analyst

chart
Click to Enlarge

The SPDR S&P Homebuilders ETF (XHB) has had a nice run over the past month and is up over 11%. It is now testing key chart resistance and the long-term downtrend in the $16.75 area. A strong close above this resistance would project a move to $20-$22, which is 20%-30% above the breakout level. The initial support is at $14.90.

  By clicking submit, you agree to our privacy policy & terms of service.

Related Articles on STRATEGIES

Keyword Image
Dow Underdogs for 2019
02/11/2019 5:00 am EST

A favorite strategy of mine is to buy Dow “Underdogs,” the stocks in the Dow Jones Indus...