has had a great year. The shares are up about 110% and counting.
This performance beats the average index returns by about 100%
and puts Trulia on the leader board of top-performing stocks.
Though the ascent has been incredibly profitable for
investors, more gains could be on the way for
this housing stock
. Trulia offers free housing data to consumers, and is a great
investment if you're a believer in the
. Potential homebuyers use Trulia.com to access free data about
price trends, neighborhood statistics and other important
The housing recovery looks to be maturing. Construction of new
homes hit its highest rate since 2008, as starts for apartments
surged in March, helping the total jump 47% from last year.
That's the biggest percentage increase since 1992, according to
This is especially great news for Trulia because developers will
need to find people for those houses. Of course, Trulia is hoping
that real estate agents will use Trulia.com to list properties
and gain access to Trulia's 23 million monthly visitors.
ChartWatch looked at Trulia before fourth-quarter earnings were
announced in February. I expected
the housing stock
to find support at $23.50 (bottom blue line) and reach $30.
However, even that optimistic expectation proved low. The shares
quickly scooted to $38, notching a 65% rise in one week.
Though the shares eventually topped near $38, the stock found
support at $23.50 during its retreat, and proceeded to rise back
above $30. The shares have since struggled to overcome $34 (top
blue line). This has been an area of selling pressure, and it
will take great first-quarter results for the stock to break out
Given the recent strings of amazing U.S. housing data, I'm
inclined to believe Trulia will beat analyst estimates again this
quarter. A high-volume breakout above $34 should result in a
quick test of $38, followed by an eventual rise to $45. Trulia's
is another great option, although we'll have to save analyzing it
for another time.
This chart shows the price of
shares along with an important price channel to monitor.
Equities mentioned in this article: TRLA, Z
Positions held in companies mentioned above: