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- 4/19/2024 -
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Pulte Homes, Inc. (PHM) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the Pulte Homes, Inc. (PHM). During the week, the PHM dropped -5.46 points, or -4.92%, and closed at 105.43 on Friday, April 19, 2024. Weekly volume was -21% below average.
 Long-term trend: [See PHM long-term trend chart]
A long-term uptrend had started on October 4, 2011 at 3.29 and reached 121.08 on April 1, 2024. PHM gained -117.79 points, or -3580.24%, in 651 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (40.66) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
 Medium-term trend: [See PHM medium-term trend chart]
A medium-term uptrend had started on June 17, 2022 at 35.03 and reached 121.08 on April 1, 2024. PHM gained -86.05 points, or -245.65%, in 93 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 80.57 and resistance is at 111.83. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See PHM weekly technical indicators chart]
Weekly technical indicators are neutral.
During the last week, weekly MACD line has moved below its signal line. Such crossover is considered a bearish signal. Use the following link to access a MACD help.
 Short-term trend: [See PHM short-term trend chart]
A short-term downtrend had started on April 1, 2024 at 121.08 and reached 104.60 on April 19, 2024. PHM lost 16.48 points, or 13.61%, in 18 days. The price is now at the 5.04% retracement level.
 Daily Technical Indicators: [See PHM daily technical indicators chart]
Daily Williams' Percentage Range is oversold while Lane's Stochastic is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Williams' Percentage Range or strongly oversold daily Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.
The daily MACD line is below its signal line since April 2, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term downtrend is strong.
During the last week, the price has crossed below the 50 Day Moving Average. While the medium-term trend is up and daily technical indicators are oversold, the 50 Day Moving Average is considered a support level. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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