Technical Strategy Video (Recorded Wednesday, November 3rd):

The video in this report is only accessible to members
The video in this report is only accessible to members

Key Takeaways

  • AAP, AZO, KLAC are the most bullish technically right now given their recent parabolic price action. While all are overbought, these also are ones to buy dips
  • WRB, AVGO, look to be two that are on the verge of a larger advance, specifically based on structure
  • PHM, ROST, ATVI are the only three to technically lie in near-term downtrends from September; However, this weakness looks to be nearing areas to buy in all three.

The video in this report is only accessible to members
Pulte Homes ($PHM- $47.79) Attractive risk/reward given its pullback to meaningful support near the 38.2% Fibonacci retracement of the entire run-up from the March 2020 lows. PHM had meaningful former highs near 46 in early 2020 as well as considerable trading history between 40-46 during most of 2020. Thus, pulling back to this area should offer appealing support to buy dips and/or position long for a push back to new highs. As the saying goes, former resistance often brings about meaningful support on a retest. Sector-wise, PHM trades in a very favorable sector from a seasonality perspective, and investors have the chance to buy this stock over 20% off its all-time high peaks made earlier this year. Weekly momentum do...

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