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KB Homes...Another Bites The Dust by rollandthomas

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· @rollandthomas ·
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KB Homes...Another Bites The Dust
<center>![](https://cdn.steemitimages.com/DQmeHvPrkgo32cvs7XNSTZvNMafncigafS28sxBoM25CJrt/image.png)</center>

KB Home (NYSE: KBH) was down 16% Thursday, its worst day of trading since 1992. KB Home says that it is now expecting revenue for the fourth quarter of 2018 to range from $1.31 billion to $1.34 billion. KB Homes CEO Jeff Mezger said the lowered guidance was “due to fewer than anticipated spec sales and deliveries and delayed closings in California due to impacts from the recent large wildfires.

NOTE: through the 10 weeks of the fourth quarter, bookings were down 14% versus a year ago, indicating an imminent revenue slowdown.

Credit Suisse, Wells Fargo, Barclays and Wedbush all slashed their price targets on KB Home stock. Bank of America Merrill Lynch cut both its rating to neutral from buy and its price target to $24 a share from $26 a share.Bank of America’s John Lovallo said the “lower valuation multiple is warranted given the significant order decline and heightened market uncertainty in FY19.”

I realize I’m starting to sound like a 

<center>![](https://cdn.steemitimages.com/DQmcJid9MSsE9UVhpMaNgQxMkuWswbKTatLBrnmA3LPLaXE/image.png)</center>

but I refuse to be blindsided like I was by the last housing market. 

<center>[Zillow Bellows In Agony]( https://steemit.com/stocks/@rollandthomas/zillow-bellows-in-agony)</center>

<center>[Short Fortune Brands Home & Security](https://steemit.com/stocks/@rollandthomas/short-fortune-brands-home-and-security)</center>

<center>[Bank Of America Joins The Home Builders "Turning Sour" Bandwagon](https://steemit.com/money/@rollandthomas/bank-of-america-joins-the-home-builders-turning-sour-bandwagon)</center>

<center>[Finally Added Home Depot and Lowe's To My Short List](https://steemit.com/money/@rollandthomas/finally-added-home-depot-and-lowe-s-to-my-short-list)</center>

<center>[Toll Brothers Bottomed Out.....NOT – Part II](https://steemit.com/money/@rollandthomas/toll-brothers-bottomed-out-not-part-ii)</center>

<center>[Toll Brothers Bottomed Out.....NOT](https://steemit.com/money/@rollandthomas/toll-brothers-bottomed-out-not)</center>

So where is KB Homes stock price headed, lets go to the charts? 

Monthly Chart (Curve Time Frame) - monthly supply is $47 and monthly demand is $8.

![](https://cdn.steemitimages.com/DQmcfLdLU6KSpii6VGGDzgZEQsUSfGvYUajziWzLM8N3KKT/image.png)

Weekly Chart (Trend Time Frame) – after price made a high of $39 at the beginning of the year,  the trend is down 

![](https://cdn.steemitimages.com/DQmcUCNnFYyXtfkvRPqnnasyVNPLwT5SjhZGM3qqMdFZ6cQ/image.png)

Daily Chart (Entry Time Frame) – the chart suggests to go short at one of the two daily supply zones with a target at the monthly demand at $8.

![](https://cdn.steemitimages.com/DQmQHNqe3zquZobiXdR4mh9USKpW5zvnxn7rGEiX7RtP4NX/image.png)

This post is my personal opinion. I’m not a financial advisor, this isn't financial advise. Do your own research before making investment decisions.

![upvote banner3.gif](https://steemitimages.com/DQmRhDtjokAZnGKi4QwheqksKTFo6m4fsjMYsNNrsitC1xk/upvote%20banner3.gif)

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