On Tuesday, M/I Homes got a positive adjustment to its Relative Strength (RS) Rating, from 80 to 84.
IBD's proprietary RS Rating tracks market leadership by showing how a stock's price movement over the last 52 weeks compares to that of the other stocks in our database.
History reveals that the market's biggest winners typically have an 80 or higher RS Rating as they launch their biggest runs.
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M/I Homes is trying to complete a consolidation with a 140.73 buy point. See if it can break out in volume at least 40% above average. Keep in mind that it's a later-stage consolidation, and those entail more risk.
Earnings grew 31% last quarter, up from -29% in the prior report. Revenue also increased, from -20% to 5%. Look for the next report on or around Jul. 24.
The company holds the No. 8 rank among its peers in the Building-Residential/Commercial industry group. PulteGroup, Toll Brothers and Meritage Homes are among the top 5 highly rated stocks within the group.
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