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KB Home Needs More Base Building, Buying to Support a Rally

Bruce Kamich

was last visited in the middle of May where I wrote, "KBH is pointed down and we find few technical reasons to buy it. In this daily bar chart of KBH, below, we can see that prices made a peak in January and have given back a large part of its gains from September. The daily On-Balance-Volume (OBV) line shows a peak in January with prices and then a decline into early May, which tells us that sellers were more aggressive.