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PHM in a healthy bullish trend

As we can see in the blue box, PHM – PulteGroup, Inc. – went through a trendless phase with price moving between 31 and 32.

As soon as, though, price reached its 20-day exponential moving average the bulls decided to move price up again and pushed it to the upper Bollinger Band.

It’s also important to note that since late March the 10-day exponential moving average is moving above the 20-day exponential moving average, which in turn moves above the 50-day exponential moving average.

At the same time MACD stopped its downtrend and is ready to cross above its signal line.

Finally, PHM’s Relative Strength has been moving up and above its 20-day exponential moving average since early April.

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