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DR Horton Rises 1.53% on Heavy Volume: Watch For Potential Pullback

By Shiri Gupta

DR Horton (NYSE:DHI) traded in a range yesterday that spanned from a low of $33.25 to a high of $33.78. Yesterday, the shares gained 1.5%, which took the trading range above the 3-day high of $33.62 on volume of 1.0 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, DR Horton has traded in a range of $22.97 to $34.56 and is now at $33.70, 47% above that low. Over the past week, 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 January 24th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $30.17. Since that recommendation, shares of DR Horton have risen 10.2%. We continue to monitor DHI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders DR Horton

Ticker(s): DHI