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DR Horton Crosses Below its 10-day MA (DHI)

By James Quinn

Today, shares of DR Horton (NYSE:DHI) have crossed bearishly below their 10-day moving average of $33.97 on a volume of 1.7 million shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, DR Horton share prices have been bracketed by a low of $22.97 and a high of $34.56 and are now at $33.56, 46% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 1.1%.

SmarTrend recommended that subscribers consider buying shares of DR Horton on June 7th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $31.53. Since that recommendation, shares of DR Horton have risen 8.8%. We continue to monitor DHI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses DR Horton

Ticker(s): DHI