D.R. Horton, Inc. (NYSE: DHI) shares rose on Wednesday January 25 on lower trade volume than normal after a number of analysts weighed in on the investing value of the stock, raising the price target of stock.
Meanwhile, the Dow Jones Industrial Average on Wednesday crossed the 20,000 level for the first time, while the S&P 500 and Nasdaq Composite also traded in record territory shortly after the market opened
The Dow Jones Industrial Average DJIA, +0.60% advanced 100 points, or 0.5%, to 20,012,
The S&P 500 index SPX, +0.55% gained 10 points, or 0.5%, to 2,289, with eight of the main 11 sectors trading higher.
The Nasdaq Composite index COMP, +0.66% was 30 points, or 0.6%, higher at 5,630.
All three main indexes set intraday records shortly after the opening bell.
D.R. Horton, Inc. (NYSE: DHI) had its price target boosted by equities researchers at Barclays PLC from $0.00 to $30.00. Barclays PLC currently has a rating of on the stock. The one-year price target of $34.03 is higher than the opening price of $30.91, causing a number of other analysts to report on the stock in recent days. Looking back over the last year, D.R. Horton, Inc. stock has a high of $34.56.
Shares of D.R. Horton, Inc. (NYSE: DHI) opened at $30.91 yesterday trading between $30.70 and $31.42, and last traded at $31.36, a jump of $0.72 from the previous closing price.
D.R. Horton, Inc. (NYSE: DHI) now has a market cap of 11.69B.
D.R. Horton, Inc. (NYSE: DHI) Average Daily Trading Volume
1,284,103 shares traded hands yesterday, 106 percent lower than the average, out of a total float 337,869,000. lower than normal. Look for trading volume to pick up in the coming days as investors often use swings in trading volume to identify heavy volume accumulation or distribution by institutional investors.
While increased trading for short periods will not mean much will not mean much, conversely, a trend of heavy trading volume on the buy side over a period of days or weeks sends a positive signal to market traders that institutions may be moving in, so institutional sponsorship is very important.
Institutional sponsorship commonly refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Institutional investors such as these have substantial teams of analysts that investigate thousands of stocks. Thus, watching their interests is a good way to ensure you are buying the right stocks.
D.R. Horton, Inc. (NYSE: DHI) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By tracking the activity of these professional investors—and the moving averages they affect—it allows for traders to make more effective decisions on trades.
Trades for D.R. Horton, Inc. (NYSE: DHI) have ranged from $22.97 – 34.560, and the stock now has a 50-day MA of $28.32 and 200-day MA of $30.06. Today’s last price is 9.27%% under the 52 week high of $34.56.
Indeed, earnings growth is among the most crucial things to look at in regards to stock investing and, accordingly, investors seek companies that have grown their earnings by at least 25% over 3 consecutive years.
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