City Developments (OTCMKTS:CDEVY) Share Price Passes Above 50-Day Moving Average – What’s Next?

City Developments Ltd. (OTCMKTS:CDEVY) shares passed 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.

Analyst Ratings Changes

Separately, Dbs Bank upgraded City Developments to a “moderate buy” rating in a report on Tuesday, November 25th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, City Developments currently has an average rating of “Buy”.

City Developments Price Performance

The firm’s fifty day simple moving average is $6.83 and its 200 day simple moving average is $5.88.

About City Developments

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.