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.