InTheMoneyStocks Pro Traders Market Analysis

[ITMS]

Home-builders Stocks Hit The Roof


Most of the leading home-builder stocks are now trading into overbought territory. When a stock or sector becomes overbought it will become susceptible to near term pullbacks. Today, most of the leading home-builder stocks are coming under early selling pressure. Toll Brothers Inc (NYSE:TOL) is considered to be the leading stock in the sector. This stock has surged sharply higher since April 10, 2012 when the stock traded around $21.78 a share. Today. TOL stock is declining lower by 0.43 cents to $25.13 a share. This stock is trading above all of the major daily chart moving averages which puts the stock in a strong technical position. The problem with the stock at this time is that it is overbought and will likely need to consolidate or pullback before moving higher. Short term traders can watch for intra-day support around the $25.00, and $24.65 levels. ...Continue reading here: http://bit.ly/InSzwM