Friday, May 03, 2013 8:10:49 AM
May 03, 2013 (ACCESSWIRE-TNW via COMTEX) -- New York City, New York -- (May 03,
2013)
The U.S. housing market is continuing to see a robust recovery. Data released
earlier this week showed that home prices in 20 U.S. cities rose 9.3% in the
month of February. A separate report released this week showed that pending home
sales rose more than forecast in March. With the main driving factors for the
improvement in housing market still in place, the recovery is expected to
continue at a robust pace. This augurs well for homebuilders, which were among
the best performing stocks in 2012. Homebuilders ended mostly higher in
Thursday's trading session, tracking gains in the broad market, which rallied on
the back of better-than-expected initial jobless claims data. Among the major
movers were D.R. Horton Inc. (NYSE: DHI), Hovnanian Enterprises Inc. (NYSE:
HOV), Lennar Corporation (NYSE: LEN), and Beazer Homes USA Inc. (NYSE: BZH).
StockCall reviewed the Residential Construction industry and chose DHI, HOV,
LEN, and BZH for its technical coverage. These free reports can be seen for free
at
www.stockcall.com/signup
Shares of D.R. Horton Inc. rose sharply in trading on Thursday. The stock rose
to an intra-day high of $26.53 before finishing the day 3.28% higher at $26.42
on above average volume of 6.29 million. Despite the gains yesterday, D.R.
Horton's shares are down nearly 0.40% in the last three trading sessions. The
stock, however, has gained more than 33.50% so far in 2013, continuing its
excellent run from last year. The company's shares are currently trading nearly
3.30% below their 52-week high. Download the free research on DHI by signing up
now at
www.StockCall.com/DHI050313.pdf
Shares of Hovnanian Enterprises Inc. rallied in yesterday's trading session,
reversing all of its losses from previous sessions. The stock closed 5.61%
higher at $5.65 on above average volume of 6.17 million after trading between
$5.40 and $5.71. The company's shares also moved above their 50-day moving
average on Thursday which is a bullish signal. The positive trend is further
confirmed by the stock's MACD chart. Hovnanian Enterprises' shares face stiff
resistance at around $5.75. Register for today's free analysis on HOV at
www.StockCall.com/HOV050313.pdf
Another homebuilder that rose sharply on Thursday was Lennar Corp. Shares of the
Miami, Florida-based company closed 3.84% higher at $41.92 on volume of 3.98
million after touching an intra-day high of $42.21. Lennar's shares are
currently trading close to their 52-week high of $43.90. The stock has gained
more than 8.60% so far this year as compared to a gain of over 12% for the S&P
500. The company's shares are currently trading above their 50-day and 200-day
moving averages which is a bullish signal. Free report on LEN can be accessed by
registering at
www.StockCall.com/LEN050313.pdf
Shares of Beazer Homes USA Inc. surged in trading yesterday after the company
reported that its second quarter loss narrowed. The stock rose to an intra-day
high of $18.92 before paring some of the gains to finish the day 10.30% higher
at $18.52 on above average volume of 6.60 million. The company's shares have now
gained more than 13% in the last three sessions. Year-to-date, the stock has
gained more than 9.60%, underperforming the S&P 500. Shares of BZH have crossed
their 50-day and 200-day moving averages recently which is a strong bullish
signal.Register withStockCall and download the research on BZH for free at
www.StockCall.com/BZH050313.pdf
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Copyright 2013 ACCESSWIRE-TNW
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Source: Comtex Wall Street News
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Contingit stercore.
Recent BZH News
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