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MDC Holdings Makes a Move: Down 2.4%

Published on Wed, 03/06/2013 - 13:16
By Robert Cotter

Down 2.4% to $39.60, MDC Holdings (NYSE:MDC), is one of today's notable movers. The Dow is up 0.3% to 14,296 and the S&P is currently trading fractionally higher to 1,541.

Based on a current price of $39.60, MDC Holdings is currently 8.9% above its average consensus analyst price target of $36.08. The stock should find initial support at its 50-day moving average (MA) of $38.56 and further support at its 200-day MA of $35.03.

In the past 52 weeks, MDC Holdings share prices have been bracketed by a low of $22.72 and a high of $42.41 and are now at $39.60, 74% above that low price. The 200-day and 50-day moving averages have moved 0.49% higher and 0.48% higher over the past week, respectively.

M.D.C. Holdings, Inc., through its subsidiaries, builds and sells homes under the name Richmond American Homes. The Company also originates mortgage loans primarily for its home buyers. M.D.C. builds its single-family homes in Colorado, Virginia, Maryland, Northern and Southern California, Arizona, and Nevada.

By Robert Cotter
rcotter@fnno.com