May 10, 2013 (SmarTrend(R) News Watch via COMTEX) -- Pulte Homes (NYSE:PHM) traded in a range yesterday that spanned from a low of $22.64 to a high of $23.24. Yesterday, the shares gained 1.6%, which took the trading range above the 3-day high of $22.91 on volume of 6.3 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
SmarTrend recommended that subscribers consider buying shares of Pulte Homes on April 25th, 2013 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $20.38. Since that recommendation, shares of Pulte Homes have risen 12.1%. We continue to monitor PHM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Over the past year, Pulte Homes has traded in a range of $7.63 to $23.59 and is now at $23.22, 204% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.6% while the 200-day MA has risen 1.4%.
Write to Chip Brian at cbrian@mysmartrend.com
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Copyright, Comtex News Network, Inc. 2013
