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| PHM Daily Chart |
Pulte Homes reported earnings on 7/25 and they were not inspiring. Since then it has found support and moved up about 6%. Volume for the last 2 trading days has been below average but increasing and the stock has begun filling the gap. Thursday the stochastic printed a buy signal and Friday the price moved up 3%. I'm not looking for 24 but I do think the 200 day simple moving average is reasonable and that would be a 12% move. I would set the stop reasonably tight; say 16.87 if the stock opens higher or 50 cents below the entry if it opens lower and bounces.
