I believe we are about to see a Cup & Handle formation here.
RSI is high (overbought) currently, therefore price may price may come back down to the SMA lines. This will result in bringing the RSI back down to an appropriate level. Once the price meets the SMA lines, it will use them as support to continue to rise - completing the Cup & Handle formation. Thereafter, it will be all time highs for $BLDR.
Along with strong showings in Earnings last week, the current Real Estate cycle, and many other factors - I believe this stock looks good on the chart & on the paper.
Long.
RSI is high (overbought) currently, therefore price may price may come back down to the SMA lines. This will result in bringing the RSI back down to an appropriate level. Once the price meets the SMA lines, it will use them as support to continue to rise - completing the Cup & Handle formation. Thereafter, it will be all time highs for $BLDR.
Along with strong showings in Earnings last week, the current Real Estate cycle, and many other factors - I believe this stock looks good on the chart & on the paper.
Long.