Dana Holding Corp. (NYSE: DAN) shares rose in value Thursday Dec 1 with lighter trade volume than normal after a number of analysts weighed in on the investing value of the stock with a upgraded rating.
Meanwhile, U.S. stocks opened with slight gains on Thursday.
The Dow Jones Industrial Average DJIA, +0.31% rose 38.22 points, or 0.2%, to 19,174, while the S&P 500 SPX, +0.01% added 2.1 points to 2,202, a rise of 0.1%.
The Nasdaq Composite Index COMP, -0.32% rose less than 1 point to 5,323, essentially unchanged on the day.
Analysts at Deutsche Bank AG upgraded shares of Dana Holding Corp. (NYSE: DAN) from Hold to Buy today. Deutsche Bank AG currently has a rating of Buy on the shares. As a means of comparison, a number of other analysts have spoken on the company in recent days, and the company has earned a consensus one-year price target of $16.40, less than the opening price of $17.95, a difference of 9.37 percent. Dana Holding Corp. stock has a 52-week high of $17.95. Stock prices often move to the upside on recommendations and new price targets of professional analysts.
Shares of Dana Holding Corp. (NYSE: DAN) opened at $17.95 on Tuesday trading between $17.46 and $17.95, and last traded at $17.50, which is an increase of $0.61 or 3.61% compared to the previous closing price.
Dana Holding Corp. (NYSE: DAN) currently has a market cap of 2.52B.
Dana Holding Corp. (NYSE: DAN) Average Daily Trading Volume
The stock’s average daily volume is 1,812,280 shares out of a total float 143,171,000 and some 207,382 shares traded hands yesterday, below the average. Trading volume is likely to increase in the next few days as swing traders often use upticks in trading volume to determine large volume accumulation or circulation by institutional investors.
As with all possible breakouts, investors watch for volume to be at least 40%-50% higher than normal on the breakout to demonstrate that fund managers and other professional investors are jumping in.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These instituitional investors have teams of analysts that research thousands of stocks. So watching their interests is a good way to make sure you are buying the right stocks.
Dana Holding Corp. (NYSE: DAN) 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 effective judgments on trades.
Trades for Dana Holding Corp. (NYSE: DAN) have ranged from $9.80 – 17.95, and the stock now has a 50-day MA of $15.62 and 200-day MA of $13.73. Today’s last price is 2.51%% under the 52 week high of $17.95.
Indeed, earnings growth is among the most important things to look at in regards to stock investing and, accordingly, investors seek companies that have grown their earnings at least 25% or more for the past 3 years.
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