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Shares of Desarrolladora Homex SAB de CV Under Pressure, Down 5.3%

Published on Mon, 02/04/2013 - 11:14
By Peter Chu

One of today's stocks on the move is Desarrolladora Homex SAB de CV (NYSE:HXM), down 5.3% to $13.80. The S&P is trading lower by 0.7% to 1,503 and the Dow is trading 0.8% lower to 13,900.

Desarrolladora Homex S.A. de C.V. operates as a vertically integrated home builder. The Company purchases tracts of land, designs, constructs and markets homes for the lower and middle income markets, and assists clients with obtaining mortgages.

Desarrolladora Homex SAB de CV share prices have moved between a 52-week high of $22.47 and a 52-week low of $11.00 and are now trading 25% above that low price at $13.80 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 2.1%.

Desarrolladora Homex SAB de CV has overhead space with shares priced $13.80, or 6.7% below the average consensus analyst price target of $14.80. The stock should discover initial support at its 200-day moving average (MA) of $13.52 and subsequent support at its 50-day MA of $13.07.

By Peter Chu
pchu@fnno.com