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Pulte on Verge of Long-term Move Higher

PulteGroup (NYSE:PHM) — This U.S. homebuilder has a financial services division, which consists principally of mortgage banking and title operations. It appears that first-time buyers are becoming more active, and U.S. households are increasing at a greater rate than homebuilding. We may be seeing a bottom in the building industry.

Pulte is cash rich, with over $1.1 billion in cash that can be used to build or acquire communities. The company has increased its earnings (though still at a loss) for the past four years, and is likely to turn profitable this year.

Technically the break from a deep cut along with a golden cross are powerful signals. If the stock can rebound through $9.50, it would confirm that the first leg of a bull market could be starting and a long-term move higher is under way. Buy PHM now at market.

Trade of the Day -- PulteGroup (NYSE:PHM)
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Trade of the Day Chart Key

Article printed from InvestorPlace Media,

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