Homebuilder MTH has traded enough volume for a pocket pivot. It is also breaking out of a 4 month base. Earnings and sales have strongly accelerated (+290% earnings and +58% sales in the most recent quarter). Institutional sponsorship has increased 3 quarters in a row. Industry group rank 15th. This stock tends to violate its 50dma so poses more risk. Also keep in mind that stocks such as PHM which issued a pocket pivot 4 days ago exhibit stronger leadership qualities. We offer MTH as a secondary substitute for those who might be more comfortable buying a pocket pivot/base breakout.
PPR - MTH pocket
|Published:||23 Jan 2013 20:43 ET|
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