KB Home: Take a Symmetrical Triangle and add a slope? (NYSE:KBH)

by Josh KB Home ($KBH) share are testing the 50 day moving average ($17.11). KBH was last at $17.19 on a volume of 4,137,850. shares. Average daily volume has been at 4,821,809, putting today’s action a bit higher than normal with 2 hours left in the trading day.

Shares have formed a falling wedge pattern which is a bullish reversal pattern. Basically take a coil and add a downward slope and a falling wedge is formed. Shares have been consolidating below the 200 day moving average (last at $19.22).

Should the 50 day moving average hold, technicians will be watching for a breakout above the key moving average (200 Day SMA) on high volume to confirm the reversal.

52 Week Range $13.09-$25.14 Market Cap 1,437,360,434 Average Volume 4,821,809 Dividend Yield 0.58% Institutional Ownership 96.20% Insider Ownership: 1.70% Percentage of Float Short 22.70% Beta 2.37

KB Home constructs and sells homes through its operating divisions across the United States. It operates homebuilding and financial services business serving homebuyers in markets nationwide.

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