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Homebuilder Trading Opportunities Continue

DR Horton (DHI - Get Report) ($19.52 vs. $20.16 on Sept. 25) has been upgraded to hold from sell and is trading between its 50-day and 200-day SMAs at $19.06 and $21.96. My annual value level is $16.05 with a semiannual pivot at $20.83 and semiannual risky level at $21.19. DR Horton reports quarterly earnings on Nov. 12 and EPS is expected to be 41 cents a share.

Hovnanian (HOV) ($5.22 vs. $5.27 on Sept. 25) has been upgraded to sell from strong sell and is trading between its 50-day and 200-day SMAs at $5.19 and $5.58. My quarterly pivot is $5.47 with a semiannual risky level at $5.77. Hovnanian's next earnings release is on Dec. 12 and EPS is expected to be 16 cents a share.

KB Home (KBH) ($17.49 vs. $18.10 on Sept. 25) has been upgraded to sell from strong sell and is trading between its 50-day and 200-day SMAs at $17.16 and $19.35 with a weekly risky level in between at $18.64. KB Home's next earnings release is on Dec. 19 and EPS is expected to be 45 cents a share.

Lennar (LEN) ($36.64 vs. $36.39 on Sept. 25) has been trying to breakout above its 200-day SMA at $37.76 since Oct. 23. My semiannual value level is $35.45 with a weekly risky level at $38.47. Lennar reported quarterly results on Sept. 24 and beat EPS estimates by 8 cents earning 54 cents a share.

MDC Holdings (MDC) ($30.44 vs. $30.65 on Sept. 25) has been upgraded to hold from sell and is trading just above its 50-day SMA at $29.51 with a weekly risky level at $31.45. MDC Holdings reported quarterly results on Oct. 29 and beat EPS estimates by 9 cents earning 73 cents a share.
[Read: <a target="blank" data-add-tracking="true" href="http://www.thestreet.com/story/12086539/1/spirit-ceo-says-fees-should-rise-at-peak-times-calls-jetblue-icarian.html"><em> Spirit CEO Says Fees Should Rise at Peak Times, Calls JetBlue 'Icarian' </em></a>]

M/I Homes (MHO) ($21.11 vs. $20.79 on Sept. 25) has been downgraded to strong sell from sell and is trading between its 50-day and 200-day SMA at $19.75 and $22.90. My semiannual value level is $19.20 with a weekly pivot at $21.29 and semiannual risky level at $22.88. M/I Homes reported quarterly results on Oct. 24 and missed EPS estimates by a penny earning 47 cents a share.
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