The price targets for the XHB (Homebuilders ETF) trade posted earlier will be T1 at 37.38, T2 at 36.60 with the likelihood of a third target being added around the 36.00 level, depending on how the charts develop going forward. The suggested stop will be any move above 39.10 with a beta-adjustment of 1.0.
XHB daily July 20th
For those interested in adding short exposure to the homebuilders and/or any of the related companies (home improvement stores, paint & building supplies, furnishing, etc..), which are also components of XHB, additional trade setups on some of the individual stocks in the sector that were highlighted in yesterday’s video are likely to be added as official trade ideas soon as well. Also be aware that several of the major homebuilders or related components within XHB are scheduled to report earnings within the next week, including:
- NVR (NVR Inc.) tomorrow, July 21st before the open
- PHM (Pulte Homes) July 25th before the open
- OC (Owens Corning) July 26th before the open
- CAA (CalAtlantic Group) July 27th after the close