Meritage Homes CORP (MTH): Price Now Near $104.9; Daily Chart Shows Downtrend on 20 Day Basis

The Hourly View for MTH

At the time of this writing, MTH (Get Ratings)’s price is down $-0.68 (-0.64%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as MTH has now gone down 4 of the past 5 hours. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

Out of Construction stocks, MTH ranks 32nd in regards to today’s price percentage change.

MTH’s Technical Outlook on the Daily Chart

At the moment, MTH’s price is down $-0.79 (-0.75%) from the day prior. It’s been a feast for bears operating on the daily timeframe, as MTH has now gone down 8 of the past 10 days. Regarding the trend, note that the strongest trend exists on the 100 day timeframe. The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend. The chart below shows MTH’s price action over the past 90 days.

MTH

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MTH: Daily RSI Analysis

  • For MTH, its RSI is now at 77.7465.
  • MTH and RSI may be exhibiting divergent trends. This may be something to monitor.

For MTH News Traders

Investors and traders in MTH may be particularly interested in the following story that came out in the past day:

Factors Supporting Meritage Homes’ (MTH) Resilient 2H21 View

Meritage Homes (MTH) is set to benefit from a focus on entry-level, first-time, and move-up buyers along with a solid housing industry.

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