GCP Applied Technologies Inc. (NYSE: GCP) shares fell 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.
GCP Applied Technologies Inc. (NYSE: GCP) had its Buy rating reiterated by equities researchers at Jefferies Group in a research note to investors. With a rating of Buy on the shares, the company has a 52-week high of $30.12. A number of other analysts have issued reports on the stock recently, and GCP Applied Technologies Inc. has secured a consensus one-year price target of $33.00, above the opening price of $27.65. Stock prices often shift to the upside on recommendations and new price targets of professional analysts.
Shares of GCP Applied Technologies Inc. (NYSE: GCP) opened at $27.65 on Monday trading between $27.30 and $27.65, and last traded at $27.38, a decrease of $0.13 per share or -0.46% compared to the previous closing price.
GCP Applied Technologies Inc. (NYSE: GCP) currently has a market cap of 1.94B.
GCP Applied Technologies Inc. (NYSE: GCP) Average Daily Trading Volume
21,379 shares crossed the trading desk yesterday, below the norm, out of a total float 62,567,000. Look for trading volume to pick up in the coming days as momentum traders often use swings in trading volume to identify substantial volume aggregation or distribution by institutional investors.
While increased trading for short periods 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 very important.
Institutional sponsorship just refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Institutional investors such as these have teams of analysts researching thousands of stocks. Thus, watching their interests is a good way to ensure you are buying the right stocks.
GCP Applied Technologies Inc. (NYSE: GCP) 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.
Traders can make the best trades when they follow the activity of professional investors.
Trades for GCP Applied Technologies Inc. (NYSE: GCP) have ranged from $14.47 – 30.120, and the stock now has a 50-day MA of $26.50 and 200-day MA of $26.40. Today’s last price is 9.11%% below the 52 week high of $30.12.
Indeed, earnings growth is among the most important things to look at in regards to stock investing and, accordingly, investors seek companies that have increased their earnings by at least 25% for 3 consecutive years.
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