City Developments (OTCMKTS:CDEVY) Stock Price Passes Above 50 Day Moving Average – Here’s What Happened

City Developments Ltd. (OTCMKTS:CDEVY)’s stock price crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $6.83 and traded as high as $7.77. City Developments shares last traded at $7.6872, with a volume of 2,785 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Dbs Bank upgraded shares of City Developments to a “moderate buy” rating in a research report on Tuesday, November 25th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy”.

City Developments Price Performance

The stock has a 50 day moving average price of $6.83 and a 200-day moving average price of $5.88.

City Developments Company Profile

City Developments Limited (OTCMKTS: CDEVY) is a Singapore-based real estate developer founded in 1963. As one of the country’s largest and most established property companies, it operates as part of the Hong Leong Group of Companies. Over the past five decades, City Developments has grown from its local beginnings into an international developer with a diversified portfolio spanning residential, commercial and mixed-use projects.

The company’s core activities include property development, investment and management.