Toll Brothers Struggles To Catch A Bid: Watch This Level
InTheMoneyStocks.com | Jul 23, 2019 02:26PM ET
Leading home-builder stock Toll Brothers (NYSE:TOL) has been steadily declining since peaking in mid-May 2019. At that time, the stock was trading as high as $39.58 a share but has been slowly falling on the charts. Today, TOL is trading below its important 200-day moving average. This is usually a sign of further weakness for the shares in the near term. Traders and investors must now look around the $30 area for major chart support. That's where the stock was defended in October 2018 and also where it reversed a sharp weekly down-trend. This level will likely be solid support when initially retested.
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