KB Home Soars On Earnings; Here Is The Target
Gareth Soloway | Jan 12, 2018 12:00AM ET
Shares of KB Home (NYSE:KBH) jumped sharply higher after reporting better-than-expected earnings and upped guidance for the coming year. The home builder saw its stock jump over 11% in trading on Thursday, moving above the $38.00 level. With KB Home stock up almost 100% since September, investors are wondering if now is the time to take profits and possibly short. Based on chart analysis, the target for this current move is $41.00. In other words, there is still another almost $3.00 upside before the risk/reward is in the seller's favor. I will be looking at this $41.00 level for a short.
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