PulteGroup Inc Stock Forecast
PulteGroup Inc stock upgraded from Hold/Accumulate to Buy Candidate after Tuesday trading session.
(Updated on Apr 23, 2024)
The PulteGroup Inc stock price gained 4.57% on the last trading day (Tuesday, 23rd Apr 2024), rising from $107.83 to $112.76. During the last trading day the stock fluctuated 7.00% from a day low at $105.82 to a day high of $113.23. The price has fallen in 6 of the last 10 days and is down by -2.28% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 865 thousand more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately $352.46 million.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 9.17% during the next 3 months and, with a 90% probability hold a price between $115.46 and $134.78 at the end of this 3-month period.
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PHM Signals & Forecast
The PulteGroup Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $107.68 and $112.52. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 6.95%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The stock had a Golden Star Signal on Wednesday, February 21, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Wednesday, February 21, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for PulteGroup Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $106.86 and $106.06. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, PulteGroup Inc finds support just below today's level at $106.86. If this is broken, then the next support from accumulated volume will be at $106.06 and $105.55.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $7.41 between high and low, or 7.00%. For the last week, the stock has had daily average volatility of 3.68%.
Our recommended stop-loss: $108.14 (-4.10%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (PHM) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect PulteGroup Inc to open at $110.60, and during the day (based on 14 day Average True Range), to move between $109.41 and $116.11, which gives a possible trading interval of +/-$3.35 (+/-2.97%) up or down from last closing price. If PulteGroup Inc takes out the full calculated possible swing range there will be an estimated 5.94% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $113.84 (0.96%) than the support at $106.86 (5.23%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is PulteGroup Inc stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for PulteGroup Inc stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.531 Buy Candidate Upgraded
Predicted Opening Price for PulteGroup Inc of Wednesday, April 24, 2024
Fair opening price April 24, 2024 | Current price |
---|---|
$110.60 ( 1.91%) | $112.76 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PHM
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 118.01 | 4.66 % | |
R2 | 115.18 | 2.15 % | ||
R1 | 113.43 | 0.598 % | ||
Current price: | 112.76 | |||
Support | S1 | 107.77 | -4.42 % | |
S2 | 106.02 | -5.97 % | ||
S3 | 103.19 | -8.48 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 114.28 | 1.35 % | |
R2 | 114.20 | 1.28 % | ||
R1 | 113.84 | 0.96 % | ||
Current price | 112.76 | |||
Support | S1 | 106.86 | -5.23% | |
S2 | 106.06 | -5.94% | ||
S3 | 105.55 | -6.39% |
PHM Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 01, 2024 | Mar 14, 2024 | Apr 02, 2024 | $0.200 | 0.175% |
2 | Nov 16, 2023 | Dec 18, 2023 | Jan 03, 2024 | $0.200 | 0.199% |
3 | Sep 06, 2023 | Sep 15, 2023 | Oct 03, 2023 | $0.160 | 0.226% |
4 | May 03, 2023 | Jun 16, 2023 | Jul 05, 2023 | $0.160 | 0.207% |
5 | Feb 01, 2023 | Mar 17, 2023 | Apr 04, 2023 | $0.160 | 0.274% |
FAQ
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