Computer Sciences Corp. (NYSE: CSC) shares rose on Thursday Nov 17 with lower trade volume than normal after a number of analysts weighed in on the investing value of the stock and reiterated thier respective ratings.
Meanwhile, stocks opened flat this morning, struggling for direction in early trade ahead of congressional testimony by Federal Reserve Chairwoman Janet Yellen. Ahead of an appearance before the Joint Economic Committee, Yellen said an interest-rate hike could come “relatively soon,”
The S&P 500 SPX, +0.25% fell less than 0.1% to 2,176.85 while Dow Industrials DJIA, -0.05% fell 9 points to 18,858. The Nasdaq Composite COMP, +0.18% declined 0.1% to 5,291.48.
Computer Sciences Corp. (NYSE: CSC) had its Buy rating reiterated by equities researchers at Barclays PLC in a research note to investors. With a rating of Buy on the shares, the company has a 52-week high of $62.14. A number of other analysts have commented on the company recently, and the company has earned a consensus one-year price target of $59.17, lower than the opening price of $61.60. Share prices often move to the upside on recommendations and new price targets of professional brokerage firms.
Shares of Computer Sciences Corp. (NYSE: CSC) opened at $61.60 on Monday trading between $61.45 and $62.02, and last traded at $61.92, which is a jump of $0.50 or 0.81% compared to the previous closing price.
Computer Sciences Corp. (NYSE: CSC) currently has a market cap of 8.72B.
Computer Sciences Corp. (NYSE: CSC) Average Daily Trading Volume
The stock’s average daily volume is 1,773,390 shares out of a total float 132,687,000 and some 99,787 shares traded hands yesterday, below normal. Momentum traders often use swings in trading volume to determine large volume aggregation or distribution by institutional investors, so look for trading volume to pick up in the coming days.
However, a single day of heavy buy side trading is not enough to assert a trend. As such, market traders will continue to look for institutional sponsorship as a cue that financial institutions are moving forward.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Professional investors such as these have teams of analysts researching thousands of stocks, so it is good validation to see them taking a postion in a stock you’re considering.
Computer Sciences Corp. (NYSE: CSC) 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 marking the activity of these professional investors and how they affect moving averages, traders can make smarter trades.
With that in mind, Computer Sciences Corp. (NYSE: CSC) now has a 50-day MA of $54.83 and 200-day MA of $48.54. It has traded in a 52-week range between $24.27 – 62.14 and today’s last price is 0.35%% lower than the 52 week high of $62.14.
Indeed, earnings growth is among the most crucial things to look at in regards to stock investing and, accordingly, investors seek companies that have grown their earnings at least 25% or more over 3 consecutive years.
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