Pulte Homes (PHM) NewsBite - PHM Could Be On the Move

Posted: Thursday, May 21, 2009 10:13 AM EDT

Pulte Homes (PHM) could be on the move today and is now at $9.42, down $0.08 (-0.84%) on volume of 651,461 shares traded. PHM was covered in a Lee Allen report today. To read the report, go to www.gotomic.com/la052109 . Over the last 52 weeks the stock has ranged from a low of $6.49 to a high of $17.32. Pulte Homes stock has been showing support around $8.69 and resistance in the $10.97 range. Technical indicators for the stock are bullish and S&P gives PHM a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on PHM the stock seems like it could be a candidate for a July out-of-the-money bear-call credit spread above the 11 range. [ABR-Seven Summits Strategic Investments NewsBite]

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