Homebuilding stocks have been correlating closely as of late and many are starting to break down as potential later-stage failed-base type of short-sale set-ups. While one could after individual names in the group such as BZH, DHI, LEN, PHM, etc. another way would be to short the SPDR Homebuilders ETF (XHB) as a blanket short. One of the three moving averages just above, the 10-dma, 20-dema or 50-dma would then serve as your covering guides a little over 1% higher from current intraday price levels.
Short-Sale Set Up - Homebuilders 6/9/21
|Published:||9 Jun 2021 12:01 ET|
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