May 08, 2013 (Unusual volume via COMTEX) -- The price of KB Home shares has slipped to $23.89 (a 3.2% change) on heavy trading volume. Today's volume of 5.2 million shares tops the average 30-day volume of 4.2 million shares. Spikes in volume can validate a breakout or signify a potential turning point.
Over the past year, KB Home has traded in a range of $6.46 to $24.79 and is now at $23.89, 270% above that low. Over the past week, the 200-day moving average (MA) has gone up 1.4% while the 50-day MA has advanced 2.0%.
KB Home (NYSE:KBH) is currently priced 25.7% above its average consensus analyst price target of $17.75. The stock should discover initial support at its 50-day moving average (MA) of $21.22 and subsequent support at its 200-day MA of $16.22.
KB HOME builds single-family homes in the United States, primarily targeting first-time and first move-up homebuyers. The Company has operating divisions in Arizona, California, Colorado, Florida, Georgia, Illinois, Nevada, Wisconsin, New Mexico, North Carolina, South Carolina, and Texas in the United States. KB Home also derives income from mortgage banking, title and insurance services.
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