After rising three-fold during a multi-year upside,
Homex Development (HXM),
a Mexican homebuilder, may have stalled out as it faces resistance
in the mid $60 range.The market for entry-level and middle-income
homes remains strong in Mexico, so HXM could break out. But the
chart pattern tells us to be careful with this volatile stock.
Related Articles:
Mexican Stock Portfolio
Mexican Stocks Are Flying High
Price Patterns
- Resistance Levels Are Barriers to Price Upsides
Posted June 22, 2007.
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