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After Yesterday's Rally of 5.51% Shares Could Potentially Pullback

By David Diaz

Mdc Holdings Inc (NYSE:MDC) traded in a range yesterday that spanned from a low of $29.08 to a high of $30.05. Yesterday, the shares gained 5.5%, which took the trading range above the 3-day high of $28.54 on volume of 794,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, Mdc Holdings Inc share prices have been bracketed by a low of $26.94 and a high of $40.45 and are now at $29.83, 11% above that low price. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has remained constant.

SmarTrend recommended that its subscribers protect gains by selling shares of Mdc Holdings Inc on February 5th, 2018 by issuing a Downtrend alert when the shares were trading at $30.37. Since that call, shares of Mdc Holdings Inc have fallen 6.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders mdc holdings inc

Ticker(s): MDC