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Stock Investors Sell Off Shares of Desarrolladora Homex SAB de CV, Down 1.8%

Published on Tue, 02/12/2013 - 11:21
By Peter Chu

Down 1.8% to $12.61, Desarrolladora Homex SAB de CV (NYSE:HXM), is one of today's notable movers. The Dow is trading fractionally higher to 13,994 and the S&P is currently trading fractionally higher to 1,518.

Potential upside of 17.3% exists for Desarrolladora Homex SAB de CV, based on a current level of $12.61 and analysts' average consensus price target of $14.80. Desarrolladora Homex SAB de CV shares should first meet resistance at the 50-day moving average (MA) of $13.19 and find additional resistance at the 200-day MA of $13.42.

Over the past year, Desarrolladora Homex SAB de CV has traded in a range of $11.00 to $22.47 and is now at $12.61, 15% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 0.3%.

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.

By Peter Chu
pchu@fnno.com