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Look for Shares of Meritage Homes C to Potentially Pullback after Yesterday's 1.50% Rise

By Amy Schwartz

Meritage Homes C (NYSE:MTH) traded in a range yesterday that spanned from a low of $38.20 to a high of $38.96. Yesterday, the shares gained 1.5%, which took the trading range above the 3-day high of $38.90 on volume of 68,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend recommended that subscribers consider buying shares of Meritage Homes C on October 26th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $36.19. Since that recommendation, shares of Meritage Homes C have risen 4.8%. We continue to monitor MTH for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

In the past 52 weeks, Meritage Homes C share prices have been bracketed by a low of $32.02 and a high of $55.40 and are now at $38.49, 20% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has declined 0.7%.

Keywords: rebounders meritage homes c

Ticker(s): MTH