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Meritage Homes C Rises 2.33% on Heavy Volume: Watch For Potential Pullback

By David Diaz

Meritage Homes C (NYSE:MTH) traded in a range yesterday that spanned from a low of $67.09 to a high of $68.79. Yesterday, the shares gained 2.3%, which took the trading range above the 3-day high of $68.00 on volume of 252,000 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, Meritage Homes C share prices have been bracketed by a low of $32.02 and a high of $68.79 and are now at $68.60, 114% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 2.1% while the 200-day MA has risen 1.2%.

SmarTrend recommended that subscribers consider buying shares of Meritage Homes C on March 27th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $45.85. Since that recommendation, shares of Meritage Homes C have risen 46.0%. We continue to monitor MTH for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders meritage homes c

Ticker(s): MTH