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Hovnanian Enterprises(HOV - Get Report) designs, constructs, markets, and sells single-family detached homes, attached townhomes and condominiums, mid-rise condominiums, urban infill and active adult homes in planned residential developments. This stock is trading up 9% to $1.94 in recent trading.
Today's Range: $1.78-$1.92
52-Week Range: $0.89-$3.31
Volume: 1.97 million
Three-Month Average Volume: 3.7 million
From a technical perspective, HOV is ripping higher here back above its 200-day moving average of $1.87 with light volume. This move is pushing the stock within range of major breakout trade. That trade will hit once HOV takes out some near-term overhead resistance at $2.09 and then its 50-day moving average of $2.25 with volume.
Trades should look for long-biased trades off a sustained move or close above those levels with volume that's near or above 3,743,470 shares. If we get that action soon, then HOV could re-test is March high of $3.03. Keep in mind that HOV will need to maintain a trend above its 50-day with strong upside volume flows in order to hit $3.03.
To see more stocks under-$10 that are making notable moves higher today, check out the
Stocks Under-$10 Moving Higher portfolio on Stockpickr.
-- Written by Roberto Pedone in Winderemere, Fla.