D.R. Horton Inc. (DHI) posted an earnings and revenue beats Monday morning for the December quarter. The stock of the homebuilder was already in an uptrend from late 2018 so let's check out the charts to see if the bull run can continue.
In the daily bar chart of DHI, below, we can see a durable uptrend the past 12 months. Prices are above the rising 50-day moving average line and above the rising 200-day moving average line. A bullish golden cross of these averages can be seen way back in early April -- not a bad signal.
The daily On-Balance-Volume (OBV) line has been in an uptrend for much of the past year telling us that buyers of DHI have been more aggressive.
The trend-following Moving Average Convergence Divergence (MACD) oscillator is in a strong and bullish uptrend and close to making a new high -- this helps to confirm the uptrend.
Bottom-line strategy: DHI has rallied quickly this January so in the current coronavirus downdraft we won't be surprised if the stock pulls back a bit. Overall, the charts and indicators are strong so I would anticipate only a temporary pause in the rally with $73 being the next price target.