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Shares of MDC Holdings Rise Above Previous 52-Week High

By James Quinn

Shares of MDC Holdings (NYSE:MDC) traded at a new 52-week high today of $35.43. This new high was reached on below average trading volume as 59,000 shares traded hands, while the average 30-day volume is approximately 392,000 shares.

Over the past year, MDC Holdings has traded in a range of $19.28 to $35.43 and is now at $35.24, 83% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 1.1%.

MDC Holdings (NYSE:MDC) defies analysts with a current price ($35.24) 26.2% above its average consensus price target of $26.00. The stock should discover initial support at its 200-day moving average (MA) of $25.58 and subsequent support at its 50-day MA of $24.42.

M.D.C. Holdings, Inc., through its subsidiaries, builds and sells homes under the name Richmond American Homes. The Company also originates mortgage loans primarily for its home buyers. M.D.C. builds its single-family homes in Colorado, Virginia, Maryland, Northern and Southern California, Arizona, and Nevada.

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 39.9%. We continue to monitor MDC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows mdc holdings

Ticker(s): MDC