Tuesday, January 02, 2018 12:33:53 PM
Shares of Toll Brothers Inc (NYSE:TOL) are in trouble. The technical chart has one of the most powerful bear flag formations I have seen in the last year and it is likely near a major breakdown. The next wave of selling will be more powerful than the first, likely sinking Toll Brothers Inc as low as $40 before investors can start nibbling. The fundamental reason should be discussed as well. With the new tax plan in effect, home prices in many higher net worth states like California, New York and New Jersey will be dropping an estimated 10% or more. In addition, buyers in these higher end home states may think twice about buying, maybe even deciding to move to lower state income states. It is naive if investors think that a higher end home builder will not see an effect from this new tax plan killing off the SALT deduction.
Gareth Soloway
InTheMoneyStocks
Recent TOL News
FEATURED Cannabix Technologies Launches New Compact Breath Logix Workplace Series and Prepares for Delivery to South Africa • May 7, 2024 8:51 AM
Moon Equity Holdings, Corp. Announces Acquisition of Wikolo, Inc. • MONI • May 7, 2024 9:48 AM
NanoViricides Reports that the Phase I NV-387 Clinical Trial is Completed Successfully and Data Lock is Expected Soon • NNVC • May 2, 2024 10:07 AM
ILUS Files Form 10-K and Provides Shareholder Update • ILUS • May 2, 2024 8:52 AM
Avant Technologies Names New CEO Following Acquisition of Healthcare Technology and Data Integration Firm • AVAI • May 2, 2024 8:00 AM
Bantec Engaged in a Letter of Intent to Acquire a Small New Jersey Based Manufacturing Company • BANT • May 1, 2024 10:00 AM
