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Watch for Continued Gains in Shares of DR Horton (DHI)

Published on Wed, 03/20/2013 - 14:16
By Robert Cotter

DR Horton (NYSE:DHI) traded at a new 52-week high today of $25.08. So far today approximately 4.5 million shares have been exchanged, as compared to an average 30-day volume of 5.8 million shares.

DR Horton (NYSE:DHI) is currently priced 2.5% above its average consensus analyst price target of $24.42. The stock should find initial support at its 50-day moving average (MA) of $22.71 and further support at its 200-day MA of $20.03.

D.R. Horton, Inc. constructs and sells single-family homes designed primarily for the entry-level and move-up markets. The Company operates in the Midwest, Mid-Atlantic, Southeast, Southwest, and Western regions of the United States. D.R. Horton also, through its financial services operations, provide mortgage financing and title agency services to homebuyers.

In the past 52 weeks, shares of DR Horton have traded between a low of $13.80 and a high of $25.08 and are now at $25.05, which is 82% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.0% while the 200-day MA has risen 0.5%.

By Robert Cotter
rcotter@fnno.com