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Stock Picks For Monday: KB Home, M/I Homes, Horton DR

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KB Home (NYSE:KBH)

The hot stock picks for this week will focus on homebuilding. Many stocks have broken out of their consolidation on the back of a bullish Dow Jones index. Homebuilding sector seem to be indicating a recovery in sector as the economy outlook brightens and negative news are priced in.

Technically, KB home has broken out of an inverse head and shoulder 2 weeks ago and we would expect a technical target (based on Head and Shoulder breakout ) of around $20 dollars which coincide with the previous high in Sep 2009.

13 March KB Home

M/I Homes (NYSE:MHO)

MI homes has reversed and broken out from a double bottom formation as shown in the chart. Last week the 3 days of pullback with relatively low volume signified that the stock is poised for another up move to take on the resistance of $17.

13 March MI

Horton DR (NYSE:DHI)

Horton appears to be forming a small ascending triangle with the potential to breakout above $13.49. However, $13.79 will be a key resistance as it has been tested 3 times in August last year.

13 March Horton

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