PHM in bullish mode

First of all, the Relative Strength of PHM – PulteGroup, Inc. – has been moving up and above its 20-day exponential moving average since early April.

Apart from that, PHM has been trading in a narrow range between 30.5 and 32.5 since late April.

The stock’s price action in the last sessions is an indication that the bulls are getting stronger and win the fight against the bears. We can see that price moved above its 10- and 20-day exponential moving average and is currently trading just below the upper Bollinger Band.

At the same time, MACD has just moved above its signal line as momentum seems to have a slight bullish direction.