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After Yesterday's Rally of 3.30% Shares Could Potentially Pullback

By James Quinn

Mdc Holdings Inc (NYSE:MDC) traded in a range yesterday that spanned from a low of $39.60 to a high of $40.85. Yesterday, the shares gained 3.3%, which took the trading range above the 3-day high of $39.51 on volume of 274,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Mdc Holdings Inc share prices have moved between a 52-week high of $40.85 and a 52-week low of $25.14 and are now trading 62% above that low price at $40.85 per share. Over the past week, the 200-day moving average (MA) has gone up 0.7% while the 50-day MA has advanced 1.6%.

SmarTrend recommended that subscribers consider buying shares of Mdc Holdings Inc on July 2nd, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $33.18. Since that recommendation, shares of Mdc Holdings Inc have risen 18.9%. We continue to monitor MDC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders mdc holdings inc

Ticker(s): MDC