Sales of new U.S. homes sank 6.9% in April, mostly influenced by a decline in the sale of homes worth less than $300,000. The Commerce Department said that new homes sold at a seasonally adjusted annual rate of 673,000 in April, down from 723,000 in March. However, year-to-date home sales are running 6.7% above the pace set in 2018.
Buyers have been helped by lower mortgage rates and a solid job market. But higher prices and a lack of sales listings have been an obstacle this year for sales of new and existing homes, limiting the number of people who can afford to buy.
XHB saw its Momentum Indicator move above the 0 level on June 05, 2023. This is an indication that the stock could be shifting in to a new upward move. Traders may want to consider buying the stock or buying call options. Tickeron's A.I.dvisor looked at 97 similar instances where the indicator turned positive. In of the 97 cases, the stock moved higher in the following days. The odds of a move higher are at .
The Moving Average Convergence Divergence (MACD) for XHB just turned positive on June 06, 2023. Looking at past instances where XHB's MACD turned positive, the stock continued to rise in of 48 cases over the following month. The odds of a continued upward trend are .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where XHB advanced for three days, in of 319 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Aroon Indicator entered an Uptrend today. In of 316 cases where XHB Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
The 10-day RSI Indicator for XHB moved out of overbought territory on June 08, 2023. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 46 similar instances where the indicator moved out of overbought territory. In of the 46 cases, the stock moved lower in the following days. This puts the odds of a move lower at .
The Stochastic Oscillator has been in the overbought zone for 2 days. Expect a price pull-back in the near future.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where XHB declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
XHB broke above its upper Bollinger Band on June 06, 2023. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
A.I.dvisor indicates that over the last year, XHB has been closely correlated with ITB. These tickers have moved in lockstep 97% of the time. This A.I.-generated data suggests there is a high statistical probability that if XHB jumps, then ITB could also see price increases.