D.R Horton Inc. (DHI) presently approaching meaningful support, able to absorb weekly selling pressures. From here, (DHI) can recover and turn higher to channel resistance, eliciting gains of 20-25% over the following 3-5 months. Inversely, a weekly settlement below the shown support would place (DHI) into a sell signal where losses of a similar magnitude would be expected over the same time horizon.
Will it bounce from here? It just bounced off your line. This could be where it bounces or it may fall back to support at around $96, our the lower trendline at $82. Interesting. I suspect a reversal is coming pretty soon and keeping an eye on this one.
jrothlander
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@jrothlander, bounced nicely at $101... right where you expected it to. Nice.