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M.D.C. Holdings Inc. (Friday’s close US$38.97) rallied from US$19.67 in November, 2016, to US$34.18 in June, 2017, (A-B) and then stayed in a horizontal trading range mostly between US$26 and US$35 for about two years (dashed lines). The recent rise above the top of this range signalled a breakout and the start of a new up-trend (C).

Behaviour indicators including the rising 40-week moving average (40wMA) and the rising trend-line (solid line) confirm the bullish status. There is good support near US$33 to US$34. Only a sustained decline below ±US$32 would be negative.

Point & Figure measurements provide targets of US$42 and US$47. The large trading range (dashed lines) supports significantly higher targets.

Monica Rizk is the senior technical analyst and Ron Meisels is the president of Phases & Cycles Inc. ( And he tweets at @Ronsbriefs. They may hold shares in companies profiled.

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Study and track financial data on any traded entity: click to open the full quote page. Data updated as of 18/04/24 11:59pm EDT.

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M.D.C. Holdings

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