D.R. Horton, Inc. (DHI) showed calm and slightly positive sideways trading in its latest intraday movements, as the stock attempts to recover part of its previous losses. At the same time, it is trying to unwind its clear oversold condition on the RSI, especially with the emergence of early positive signals. This comes amid the dominance of a minor bearish wave in the short term, with price action moving alongside a supporting downward trendline, in addition to ongoing negative pressure from trading below its 50-period SMA.

 

Therefore we expect the stock price to decline during the upcoming trading sessions, as long as resistance at $151.40 holds, to target the support level at $134.75.

 

Today’s price forecast: Bearish