Benzinga | Jul 15, 2020 06:31PM EDT

Why Josh Brown Likes D.R. Horton

On CNBC's "Closing Bell," Josh Brown of Ritholtz Wealth Management shared with the viewers his bullish view on the homebuilding sector. He believes that the United States is under housed and there are not enough single family homes to meet the demand.

New homes, the type that D. R. Horton Inc (NYSE:DHI) builds, should do exceptionally well, said Brown. He added that the stock is trading close to its resistance and he expects it to break out above it. He would buy it on the trigger of the break out and he would place a stop loss at $50.