Don't Ignore This Chart!

A big Support Test for KB Home


A number of chart features are coming together to mark support around 15 for KB Home (KBH). First, the decline retraced 62% of the prior advance. Second, broken resistance turns into support. Third, the stock firmed the last three weeks. The only remaining wild card is the direction of the triangle break.

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Arthur Hill
About the author: , CMT, is the Chief Technical Strategist at Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London. Learn More
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