Are The Home-Builder Stocks Ready For A Correction?
Believe it or not, the home-builder stocks have been some of the biggest winners in 2012. This important industry group is coming under some selling pressure today. Toll Brothers Inc (NYSE:TOL) is considered to be one of the leading stocks in the group. Today, TOL stock is declining lower by 0.49 cents to $29.04 a share. This stock will have some intra-day support around the $28.80, and $28.45 levels. ...Continue reading here
This morning, all of the leading home-builder stocks are showing some early strength despite the over-all stock market weakness. This industry group is displaying good intra-day relative strength and could lead the markets higher if bounces take place in the major stock indexes. Lennar Corp (NYSE:LEN) is considered to be one of the leading home-building stocks in the sector.
All of the leading home-builder stocks are coming under heavy selling pressure today. This sector has been very strong since October 4, 2011. At the time, the leading home-builder stock Toll Brothers Inc (NYSE:TOL) was trading as low as $13.16 a share. Today, TOL stock is trading lower by 0.83 cents to $25.19 a share. TOL stock will have intra-day support around the $24.43, and $23.80 levels.