Clearwater Paper Corp. (NYSE: CLW) shares rose in value Monday Nov 14 with heavier trade volume than normal after a number of analysts weighed in on the investing value of the stock with a upgraded rating.
Meanwhile as investors continued to try and decipher policy proposals of President-elect Donald Trump’s administration, the Dow Jones Industrial Average DJIA, +0.11% rose 21.03 points, or 0.1%, to finish at 18,868.69, its third straight record close.
The blue-chip index had also touched a historic high of 18,934.05 during the session.
The S&P 500 index SPX, -0.01% fell 0.25 points to end at 2,164.20, and the Nasdaq Composite COMP, -0.36% dropped 18.72 points, or 0.4%, to close at 5,218.40.
Analysts at DA Davidson upgraded shares of Clearwater Paper Corp. (NYSE: CLW) from Neutral to Buy today. With a rating of Buy on the shares, Clearwater Paper Corp. has a 52-week high of $69.75. A number of other analysts have issued reports on the company recently, and the company has earned a consensus one-year price target of $70.80, above the opening price of $60.15. Stock prices often trend to the upside on recommendations and new price targets of professional analysts.
Shares of Clearwater Paper Corp. (NYSE: CLW) opened at $60.15 on Monday and traded in a range between, $59.80 and $62.10, and last traded at $61.15, a jump of $3.80 or 6.63% from the previous closing price.
Clearwater Paper Corp. (NYSE: CLW) currently has a market cap of 1.02B.
Clearwater Paper Corp. (NYSE: CLW) Average Daily Trading Volume
178,397 shares traded hands yesterday, above the average, out of a total float 16,323,000. Heavy volume aggregation by institutional investors may be in the near future as the combination of large expansions in trading volume and price growth can be deciding factors.
While increased trading for one day will not mean much, conversely, a trend of heavy trading volume on the buy side over a series of days or weeks expresses a positive indicator to market traders that institutions may be moving in, so institutional sponsorship is critical.
Institutional sponsorship just refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These instituitional investors retain substantial teams of analysts that research thousands of stocks, so it is good corroboration to see them buying a stock you are considering.
Clearwater Paper Corp. (NYSE: CLW) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By following the activity of these professional investors and how they influence moving averages,it allows for traders to make more useful choices on trades.
With that in mind, Clearwater Paper Corp. (NYSE: CLW) now has a 50-day MA of $59.63 and 200-day MA of $61.63. It has traded in a 52-week range between $32.00 – 69.75 and today’s last price is 12.33%% lower than the 52 week high of $69.75.
Indeed, earnings growth is among the most important things to look at in regards to stock investing and, accordingly, investors look for companies that have grown their earnings by at least 25% for the past 3 years.
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