DR Horton (DHI)
By Wed, Jul 29, 2020
Hey there,
We’re back this week with another strong trade.
If i’ve been absent, it’s for a GREAT reason…
My wife and I got to welcome our first child into the world!
Best week of my entire life.
I absolutely love being a dad.
And speaking of things I love, right now I’m loving DR Horton.
Right now, we’re seeing sector rotation outside of large cap tech and communications, and that’s big for us.
Banks are starting to work — or at least aren’t dropping.
And industrials are making moves as part of rotation into small caps.
Home builders are part of that, including DR Horton (DHI).
I love DHI above $63.
Below that, staying away.
But we are long above $63 with a price target of $100.
That’s it for now, gotta check on my daughter.
But we’ll be back next week with another chart of the week (and another big announcement!).
Til then, good trading,
JC Parets
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About the Author
JC Parets, founder of All Star Charts, specializes in finding the most opportunistic risk vs. reward propositions while at the same time bringing a top/down approach to the marketplace whose wide spectrum is rivaled by few. JC begins with a long-term global macro perspective and then works his way down to the individual sector and industry level before ultimately isolating the stocks that best portray a particular thesis. Price is the most important technical indicator, but JC uses supplements such as Momentum, Relative Strength, and Fibonacci analysis to complete the process.
