Stock Chart Analysis On KB Home: Double Top Alert
Shares of KB Home (KBH) tagged a major double top today at $42.20. This stock chart analysis on KB Home triggers a sell alert for investors looking to take profits on longs or swing traders looking to short. The reasoning is both technical and fundamental. On the technical side, the double top is major resistance with the stock up 30% in the last 2 weeks. On the fundamental side investors simply need to look at interest rates. As interest rates continue to climb, the cost of loans to purchase a home will rise. The more they rise, the higher the cost of that loan. This will slow demand for housing in the coming 6-12 months and will likely impact KB Home. Look for first support on KB Home at $38.00. However, if interest rates climb above 1.50% on the 10 year, look for a move all the day down to $30.00.
Stock chart analysis on KB Home…
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