RSI7 Analysis : HOV
Posted by HanaDaddy | Posted in My thoughts on the market | Posted on 03/29/2007
Tags: analysis, HOV, prediction
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Yesterday, we have HOV (Hovnanian Enterprises, Inc. ) with all rsi7m, rsi7w, and rsi7 daily under 30s . HOV design, constructs, and sell Condo single houses. and so on.
So here is some past history where its rsi7 values were below 30s.
And here is the graph from finance.google.com.
The red circle that I marked indicates the period where the stock was at the lowest point in the last year and they do match with the above RSI7 history (8/9 ~ 8/14).
Also , note that the stock was in the price range of $70 during the year 2005.
Many people forecast grim housing market so I believe it would be better to watch the stock for a while.