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SmarTrend Watching for Potential Rebound in Shares of DR Horton After 1.18% Loss

By David Diaz

DR Horton (NYSE:DHI) traded in a range yesterday that spanned from a low of $32.67 to a high of $33.27. Yesterday, the shares fell 1.2%, which took the trading range below the 3-day low of $32.68 on volume of 2.8 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, shares of DR Horton have traded between a low of $22.97 and a high of $34.56 and are now at $32.84, which is 43% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.1% while the 200-day MA has risen 0.2%.

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 9.7%. 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