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Bearish Moving Average Cross by MDC Holdings (MDC)

By Amy Schwartz

Today, shares of MDC Holdings (NYSE:MDC) have fallen below their 10-day MA of $34.16 on a volume of 103K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

MDC Holdings share prices have moved between a 52-week high of $35.99 and a 52-week low of $19.28 and are now trading 75% above that low price at $33.81 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.1% while the 200-day MA has slid 0.4%.

SmarTrend recommended that subscribers consider buying shares of MDC Holdings on November 11th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $25.08. Since that recommendation, shares of MDC Holdings have risen 37.0%. We continue to monitor MDC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses mdc holdings

Ticker(s): MDC