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Shares of Kb Home Fall to a New 52-Week Low

By David Diaz

Kb Home (NYSE:KBH) traded at a new 52-week low today of $20.87. This new low was reached on below average trading volume as 285,000 shares traded hands, while the average 30-day volume is approximately 2.5 million shares.

KB Home builds single-family homes in the United States, primarily targeting first-time and first move-up homebuyers. The Company has operating divisions in Arizona, California, Colorado, Florida, Georgia, Illinois, Nevada, Wisconsin, New Mexico, North and South Carolina, and Texas in the United States. KB Home also derives income from mortgage banking, title, and insurance services.

Kb Home share prices have moved between a 52-week high of $38.80 and the current low of $20.87 and are currently at $21.04 per share. Over the past week, the 200-day moving average (MA) has gone down 0.7% while the 50-day MA has declined 0.5%.

Potential upside of 51.5% exists for Kb Home, based on a current level of $21.04 and analysts' average consensus price target of $31.87. Kb Home shares should first meet resistance at the 50-day moving average (MA) of $24.31 and find additional resistance at the 200-day MA of $27.51.

SmarTrend is monitoring the recent change of momentum in Kb Home. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Kb Home in search of a potential trend change.

Keywords: 52 week high/lows KB Home

Ticker(s): KBH