Today we are looking at a homebuilder that designs, constructs, and sells single-family homes and condominiums. It operates through the Homebuilding and Financial Services segments. Take a look at the 3-month chart of…
Tri Pointe (NYSE: TPH) below with the added notations:
Since its beginning of the year peak, TPH seems to have formed a clear, trend line of resistance (yellow). The line of resistance is currently sitting around $17.50, and a break above that line might lead to higher prices, overall, for the stock.
The Tale of the Tape: TPH has a down trending resistance. A break above that resistance could result in higher prices for the stock, thus a long trade could be made with a protective stop set below the entry price.
Before making any trading decision, decide which side of the trade you believe gives you the highest probability of success. Do you prefer the…
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