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Tuesday, 07/23/2019 12:03:22 PM

Tuesday, July 23, 2019 12:03:22 PM

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Toll Brothers $TOL Struggles To Catch A Bid, Watch This Level

Leading home-builder stock, Toll Brothers Inc (NYSE:TOL), has been steadily declining since peaking in mid-May 2019. At that time, the stock was trading as high as $39.58 a share, but has been slowly falling lower on the charts. Today, TOL stock is trading below its important 200-day moving average. This is usually a sign of further weakness for the shares in the near term. Traders and investors must now look around the $30.00 area for major chart support. This is where the stock was defended in October 2018 and also where the stock reversed a sharp weekly down-trend. This level will likely be solid support when initially retested.

Nicholas Santiago
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