Computer Sciences Corp. (NYSE: CSC) shares rose on Monday Dec 5 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, the Dow Industrials on Monday opened at an all-time high as investors dismissed concerns about the outcome of Italy’s referendum on Sunday.
The Dow Jones Industrial Average rose DJIA, +0.41% 85 points, or 0.5%, at 19,260, the S&P 500 index SPX, +0.42% began trade 9 points, or 0.4%, higher at 2,201, while the Nasdaq Composite Index COMP, +0.43% advanced 27 points, or 0.5%, at 5,282.
Jefferies Group analysts reiterated its Buy rating on Computer Sciences Corp. (NYSE: CSC) in a note to investors, making it one of the more closely watched stocks on Wall Street. With a rating of Buy on the shares, Computer Sciences Corp. has a 52-week high of $63.34. As a means of comparison, a number of other analysts have spoken on the company in recent days, and Computer Sciences Corp. has secured a consensus one-year price target of $61.58, higher than the opening price of $59.65, a difference of 10.26 percent. Share prices sometimes get a bounce to the upside when analysts reiterate coverage.
Computer Sciences Corp. (NYSE: CSC) shares last traded at $60.04, which is an increase of $0.87 or 1.47% from the previous closing price. Opening at $59.65, they ranged from $59.17 and $60.04 throughout the day.
Computer Sciences Corp. (NYSE: CSC) currently has a market cap of 8.45B.
Computer Sciences Corp. (NYSE: CSC) Average Daily Trading Volume
84,190 shares crossed the trading desk yesterday, lower than normal, out of a total float 132,428,000. Investors often use upticks in trading volume to determine large volume growth or circulation by institutional investors, so trading volume is likely to increase in the next few days.
While higher trading for one day will not mean much, however, a trend of heavy trading volume on the buy side over a period of days or weeks expresses a positive cue to market traders that institutions may be moving in, so institutional sponsorship is very important.
Institutional sponsorship simply refers to 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 watching their interests is a good way to ensure you are buying the right stocks.
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 identifying trends, moving averages allow investors to make those trends work in their favor and increase the number of successful trades.
Trades for Computer Sciences Corp. (NYSE: CSC) have ranged from $24.27 – 63.34, and the stock now has a 50-day MA of $57.85 and 200-day MA of $50.70. Today’s last price is 5.21%% lower than the 52 week high of $63.34.
Earnings growth is a critical factor to consider when investing in stocks and investors seek companies that have increased their earnings by at least 25% for 3 consecutive years.
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