$Builders FirstSource(BLDR)$ πππ Precision Reversal: $BLDR Hits Fib Target with Perfect Elliott Timing πππ
$BLDR just tagged the monthly 55 EMA and printed a sharp reversal candle right at the 100% Fib extension: a textbook conclusion to Wave C. This bounce also coincides with the 2nd wave retracement of the larger Elliott structure, offering strong confluence for a potential bullish pivot.
The wave count shows a completed five-wave impulse to all-time highs, followed by a textbook A-B-C correction. Todayβs bounce from $115.86 to $126.91 (+8.76%) aligns with key technicals: a touch of the green 55 EMA, a 100% Fibonacci extension from the A-leg, and rejection of previous breakdown support near $120.
Structurally, this appears to be the end of Wave 2 within a larger degree third wave impulse. If this level holds, the next leg up could unfold rapidly with potential for $160+ as the first resistance zone. RSI is recovering from oversold territory, and price has reclaimed the MA10 ($114.32) with volume support. The next target sits at the MA20 ($120.72), followed by a challenge of MA30 at $132.21.
πValuation remains compelling:
P/E TTM sits at 16.19, below sector median, with a forward P/E of 15.70. ROE is 19.62% and P/S just 0.87. With a market cap of $14.03B and float cap of $13.64B, this is a highly liquid name backed by strong balance sheet metrics including $110.5M total equity and $107.5M in equity flow.
Iβm tracking follow-through above $128.75 (ask) with eyes on $138.86, then $161.34 for potential Fibonacci wave 3 projection zones. Watch for confirmation on volume and higher lows on intraday charts.
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