Boston, MA 04/09/2014 (wallstreetpr) – PulteGroup, Inc. (NYSE:PHM) (Closed at $19.12, Up 0.47%) opened positively and traded with positive bias most of the trading session. The stock traded with volumes 7.26 million almost equal to its average volumes. The company deals in the construction and development of homes and residential lands. Last year, PulteGroup surprised the street by posting results better than the expectations. And, it is likely that the company may again post good results this year on April 24, 2014 which may move the stock prices higher. The company has good consumer base and has been focussing on quality but not quantity. The future prospects are bright for the organisation.
Technically the stock of PulteGroup, Inc. (NYSE:PHM) is in long term uptrend but in the past six months it has been trading in a tight range of $17.8 and $21.5. The stock prices are forming a good base in the range of $17.5 and $18. The key moving averages 50 and 200 DMA are in the range of $19.75 and $18 and the stock is currently consolidating in this range only. Any dip near 18$ would be used as buying opportunity. The RSI is in comfortable zone and oscillator is also showing that the stock is a bit oversold. The stock prices have been quiet and are trading range bound. Once this range is broken on the upside, the stock may even hit a new 52-week high and may also advance further.
Currently, the stock of PulteGroup, Inc. (NYSE:PHM) is consolidating near 50 and 200 DMA with good volumes. There is very good buy opportunity for the investors in this stock as the risk to reward is very favourable. Any throwback in the range of $17.80 and $18.5 would be used as buying area maintaining the strict stop losses of $17 below which selling pressure may start and drag the stock further down.
