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PulteGroup Inc.'s stocks rallied then stayed in a horizontal trading range for about three years. (Getty Images/iStockphoto)
PulteGroup Inc.'s stocks rallied then stayed in a horizontal trading range for about three years. (Getty Images/iStockphoto)

WHAT THE CHARTS SAY

Bullish on PulteGroup Add to ...

PulteGroup Inc. rallied from about $10 to $24 (A-B), then stayed in a horizontal trading range mostly between $15 and $24 for about three years (dashed lines). The recent 52-week high (C) is bullish, but only a sustained rise above $24 to $25 would confirm a breakout from the trading range, renewed investor interest and the start of a new up-trend. The stock is somewhat overbought and may be subject to some minor profit taking toward ±$22, but only a sustained decline below $20 to $20.50 would be negative. A rise above $24 to $25 would signal Point & Figure targets of $28 and $32. The large trading range (dashed lines) supports significantly higher targets.

Monica Rizk is the senior Technical Analyst and Ron Meisels is the president of Phases & Cycles Inc. (www.phases-cycles.com). And he tweets at @Ronsbriefs. They may hold shares in companies profiled.

Chart source: www.decisionplus.com

Report Typo/Error

Follow on Twitter: @RonsBriefs

 
  • PulteGroup Inc
    $24.50
    +0.19
    (+0.80%)
  • Updated July 24 2:54 PM EDT. Delayed by at least 15 minutes.

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