LifeLock Inc. (NYSE: LOCK) shares rose on Monday Nov 14 with heavier trade volume than normal after a number of analysts weighed in on the investing value of the stock, boosting the price target of stock.
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.
LifeLock Inc. (NYSE: LOCK) had its price target raised by equities researchers at Canaccord Genuity from $21.00 to $23.00. The company currently has a rating of Buy on the stock. As a means of comparison, a number of other analysts have issued reports on the company in recent days, and the company has secured a consensus one-year price target of $19.50, a decrease compared to the opening price of $19.57. LifeLock Inc. stock has a 52-week high of $20.03.
Shares of LifeLock Inc. (NYSE: LOCK) opened at $19.57 on Monday trading between $19.37 and $19.90, and last traded at $19.70, which represents an increase of $0.58 or 3.03% from the previous closing price.
LifeLock Inc. (NYSE: LOCK) now has a market cap of 1.85B.
LifeLock Inc. (NYSE: LOCK) Average Daily Trading Volume
1,756,405 shares crossed the trading desk yesterday, higher than the average, out of a total float 63,568,000. Considerable volume aggregation by institutional investors may be in the near future as the combination of substantial increases in trading volume and price inflation can be determining factors.
However, one day of heavy buy side trading is not enough to affirm a trend. So market traders will continue to watch for institutional sponsorship as an indicator that financial institutions are moving forward.
Institutional sponsorship just refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These professional investors have substantial teams of analysts researching thousands of stocks, so it is good corroboration to see them taking a postion in a stock you’re considering.
LifeLock Inc. (NYSE: LOCK) 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 spotting trends, moving averages allow traders to make those trends work in their favor and increase the number of successful trades.
Trades for LifeLock Inc. (NYSE: LOCK) have ranged from $9.14 – 20.03, and the stock now has a 50-day MA of $17.01 and 200-day MA of $15.54. Today’s last price is 1.65%% below the 52 week high of $20.03.
Earnings growth is a critical factor to look at when investing in stocks and investors seek companies that have been successful at growing their earnings by at least 25% for a 3 year period.
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