UPFINA: New Home Inventory Forecasts A Recession
It seems like almost every new data point on housing shows weakness. That’s because even though millennials are entering their prime age for home buying, starter homes have become unaffordable. Housing prices for houses less than 75% of the cost of median houses increased 8.9% from September 2016 to September 2017 which was above the 6.4% increase for all homes. Millennials are delaying home buying which is also delaying peak demand. The most common age is 27 in 2018. Millennials waiting until their early 30s to buy a house pushes off this demand. Even though the labor market is extremely robust as weekly wage growth is at a cycle high and the underemployment rate is at a cycle low, shelter inflation outperforming overall CPI has taken a toll on affordability.
RWO sees MACD Histogram crosses below signal line
RWO saw its Moving Average Convergence Divergence Histogram (MACD) turn negative on April 10, 2024. This is a bearish signal that suggests the stock could decline going forward. Tickeron's A.I.dvisor looked at 43 instances where the indicator turned negative. In of the 43 cases the stock moved lower in the days that followed. This puts the odds of a downward move at .
Technical Analysis (Indicators)
Bearish Trend Analysis
The Momentum Indicator moved below the 0 level on April 10, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on RWO as a result. In of 86 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .
RWO moved below its 50-day moving average on April 10, 2024 date and that indicates a change from an upward trend to a downward trend.
The 10-day moving average for RWO crossed bearishly below the 50-day moving average on April 12, 2024. This indicates that the trend has shifted lower and could be considered a sell signal. In of 16 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where RWO declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
Bullish Trend Analysis
The RSI Indicator points to a transition from a downward trend to an upward trend -- in cases where RWO's RSI Oscillator exited the oversold zone, of 26 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .
The Stochastic Oscillator shows that the ticker has stayed in the oversold zone for 7 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an upward trend is expected.
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where RWO advanced for three days, in of 348 cases, the price rose further within the following month. The odds of a continued upward trend are .
RWO may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
The Aroon Indicator entered an Uptrend today. In of 293 cases where RWO Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
Fundamental Analysis (Ratings)
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Category GlobalRealEstate