May 14, 2013 (Market movers via COMTEX) -- One of today's notable stocks on the rise is Meritage Homes (NYSE:MTH), up 1.8% to $52.62. The Dow Jones Industrial Average is now trading 0.5% higher to 15,160 and the S&P is trading 0.7% higher to 1,646.
Meritage Homes Corporation designs, builds, and sells single-family homes ranging from entry level to semi-custom luxury. The Company operates in the South and West of the United States.
In the past 52 weeks, shares of Meritage Homes have traded between a low of $25.02 and a high of $52.69 and are now at $52.62, which is 110% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.6% while the 50-day MA has advanced 1.4%.
Meritage Homes (NYSE:MTH) defies analysts with a current price ($52.62) 14.4% above its average consensus price target of $45.06. The stock should discover initial support at its 50-day moving average (MA) of $45.91 and subsequent support at its 200-day MA of $40.37.
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