KBH, DVA And RXN: 3 Bull Patterns, Only 1 On Way To Target

I am not someone who is going to tout the good stuff and sidestep the bad stuff.  I highlight (and often take) some very good trades and I also offer up some that turn out to be clunkers.  The key is in killing the clunkers if they violate their trade parameters.

Here are 3 items featured over the last several weeks in NFTRH+, with the varying statuses of each.  I’ll use weekly charts (though NFTRH+ updates often include both daily and weekly charts for perspective).  One is doing very well and none have violated their original trade parameters.

KBH bull pattern highlighted, target set (pending resistance, which it obviously overcame) and stock dutifully sets about seeking the target.  Yay me!

kbh

DVA bull pattern identified with a ‘look-ahead’ buy level, which was hit last week.  Outcome still up in the air, but so far so good.

dva

And then there’s the company with the most old-fashioned sounding name I’ve every heard; Rexnord (RXN).  Bull pattern, break above resistance, instant profit and now… paper loss.  Boo me!

Actually, I held it because it’s not broken and for portfolio balance purposes as I wanted to be defensive, not balls out bearish on the stock market (i.e. I knew with the market pullback I’d go ‘paper loss’ on some items).  As you can see, Rexy has dropped to the top of the pattern.  At or above 22 I continue to like the chart.  Below it I start to like it less and less…

rxn

We’ve had several other bullish charts but these 3 have distinct patterns with distinct support and target objectives.  All are still candidates for bullish outcomes, but I have to admit I want to take the KBH profit and the Homebuilders sector and interest rate dynamics will probably have something to say about that.

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