Daily Stock Report

Daily Stock Report - July 20, 2020 PulteGroup Inc. - (PHM)

Homebuilder PulteGroup (PHM) remains in the Green Favored Zone of the SIA S&P 500 Index Report again having moved up 2 spots Friday to 42nd place.

Climbing up off of two successful tests of its 50-day average, PulteGroup is challenging resistance at the top of its current $32.50 to $37.50 trading range. A breakout would complete a bullish Ascending Triangle and signal the start of a new advance with next potential upside resistance on trend near a measured $42.50 then the previous high near $47.00 and the $50.00 round number. Initial support appears between the $35.00 round number and the 200-day average near $35.50.

PulteGroup (PHM) staged a major breakout last week clearing $36.90 to complete a bullish Quadruple Top pattern, completing a consolidation phase and signaling the start of a new advance. Next potential upside resistance appears in the $46.80 to $48.70 zone where a previous high and multiple vertical and horizontal counts converge. Initial support appears near $34.10 based on a 3-box reversal. 

With a bullish SMAX increasing to 8, PHM is exhibiting near-term strength against the asset classes. 

Disclaimer: SIACharts Inc. specifically represents that it does not give investment advice or advocate the purchase or sale of any security or investment whatsoever. This information has been prepared without regard to any particular investors investment objectives, financial situation, and needs. None of the information contained in this document constitutes an offer to sell or the solicitation of an offer to buy any security or other investment or an offer to provide investment services of any kind. As such, advisors and their clients should not act on any recommendation (express or implied) or information in this report without obtaining specific advice in relation to their accounts and should not rely on information herein as the primary basis for their investment decisions. Information contained herein is based on data obtained from recognized statistical services, issuer reports or communications, or other sources, believed to be reliable. SIACharts Inc. nor its third party content providers make any representations or warranties or take any responsibility as to the accuracy or completeness of any recommendation or information contained herein and shall not be liable for any errors, inaccuracies or delays in content, or for any actions taken in reliance thereon. Any statements nonfactual in nature constitute only current opinions, which are subject to change without notice.