Encouraging housing data pushed U.S. markets higher for the second consecutive session Tuesday. The Dow Jones Industrial Average gained 0.55 percent, while the S&P 500 Index gained 0.72 percent. The Commerce Department reported housing starts declined for the third consecutive month in February, but a spike in building permits shed some positive light on the U.S. housing market. The number of building permits issued jumped 7.7 percent to a seasonally adjusted 1.018 million units in February, which was significantly higher than the 1.6 percent analysts had expected.
Hovnanian Enterprises, Inc. (NYSE: HOV) shares traded in the range of $4.75 to $4.96 Tuesday before settling to close at $4.93, an increase of 4.23 percent. The stock appears to be facing some resistance at the $4.93 and $5.14 levels with some support at $4.84. Shares of Hovnanian Enterprises are down approximately 25.0 percent year-to-date.
More information on Hovnanian Enterprises and access to the free equity report can be found at:
www.WallStreetFundamentals.com/HOV
KB Home (NYSE: KBH) shares traded in the range of $17.13 to $17.71 Tuesday before settling to close at $17.68, an increase of 2.37 percent. The stock appears to be facing some resistance at the $17.87 and $18.31 levels with some support at $17.63 and $16.92. Shares of KB Home are down approximately 3.0 percent year-to-date.
More information on KB Home and access to the free equity report can be found at:
www.WallStreetFundamentals.com/KBH
M/I Homes Inc. (NYSE: MHO) shares traded in the range of $22.39 to $23.43 Tuesday before settling to close at $23.40, an increase of 3.31 percent. The stock appears to be facing some resistance at the $23.60 and $24.50 levels with some support at $23.13 and $22.22. Shares of M/I Homes are down approximately 5.0 percent year-to-date.
More information on M/I Homes and access to the free equity report can be found at:
www.WallStreetFundamentals.com/MHO
The Ryland Group, Inc. (NYSE: RYL) shares traded in the range of $40.20 to $41.61 Tuesday before settling to close at $41.40, an increase of 3.06 percent. The stock appears to be facing some resistance at the $41.79 and $42.23 levels with some support at $41.17 and $40.19. Shares of The Ryland Group are down approximately 5.0 percent year-to-date.
More information on The Ryland Group and access to the free equity report can be found at:
www.WallStreetFundamentals.com/RYL
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