Home Building Stocks Close Below March Low
Here's another group that has been showing weakness. Today the home building stocks closed below last month's low. This group is clearly weaker than the rest of the market and appears to be heading much lower.
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3 comments:
Much, much lower.
1. They are finally below 200-day MA
2. Fundamentals are much worse than last July. So $HGX must go as low as there in immediate future, 2-3 weeks.
3. April 25 report of new home sales will kill them, and last July lows will become resistance
I agree...I think the April and May report will be bearish for the home builders.
What about stocks that get .gov support like FNM. My bet is they all have further downside, possibly much lower.
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