Take a look at the daily chart below.  Isn’t it a wonderful breakout to the upside?

I like buying stock that make new high, or intermediate high.  It means there are a lot of interest behind the stock that keeps propelling the stock price to break new high.  Recently $HW makes a new high this week by taking out the weekly resistance established in the last week of January.  See below:

From the look of it, a recovery of home-building is going to drive this stock much higher.

Don’t believe me, take a look at the monthly $HW chart below:

See how much more room $HW can go giving its historical high?  But this will have to be a longer term play if you want to see that kind of price increase.

I bought starter position on $HW today.

My 2 cents.

Comments »