Beazer Homes USA Inc. (BZH) soars on strong results in Q1

Beazer Homes USA Inc. (NYSE: BZH) on Tuesday reported its first quarterly profit in more than a year, sending its shares up 6.6% to $4.97 in early trades on Tuesday.

The gap-up opening on Tuesday, coupled with strong volumes and the fact that Baezer Homes USA Inc. (BZH) has already breached 20 days and 50 days moving days MA apart from 200 days MA, is signalling that the stock has swung into an uptrend.

Demand for the company's new homes was spurred by low prices and mortgage interest rates and a federal tax credit for first-time home buyers.