Trade Alert - D.R. Horton at New Highs

Published on Tuesday, 04 September 2012 12:34 Written by TradersHuddle Wire

New York, September 4th (TradersHuddle.com) - Shares of D.R. Horton, Inc. (NYSE:DHI) booked a new 52 week high today by trading above $19.35, traders are definitely monitoring D.R. Horton's price action to see if this move attracts further buying into the stock.

D.R. Horton, Inc. (NYSE:DHI) hombuilder of single-family homes designed primarily for the entry-level and move-up markets. The Company operates in the Midwest, Mid-Atlantic, Southeast, Southwest, and Western regions of the United States. D.R. Horton also, through its financial services operations, provide mortgage financing and title agency services to homebuyers.

D.R. Horton is currently trading 1.74% versus its previous trading session close, and it has calculated support and resistance at $16.93 and $19.22 respectively. Clearly, with this action this range has been penetrated, and traders will be reviewing price action to establish a new tradable range.

The overall market index S&P 500 is trading flat by 0% from its previous trading close, which means that D.R. Horton stock is outperforming the overall market.