March 15, 2013 at 17:18 PM EDT
Homebuilder Stocks Are Basing; Meritage Breaks Out
Readers of Friday's Big Picture article noted homebuilding stocks have been in a busy base-building phase. Here is a quick rundown of the action. Meritage Homes (MTH) jumped 3% in heavy trade Friday, enough to break out above a 44.95 buy point in a first-stage cup base. The stock ended 2% above that buy point. D.R. Horton (DHI) rebounded in weak trade from its 10-week line of support while the market was correcting. It then retook the 22.89 buy
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