PolyOne Corp. (NYSE: POL) shares rose in value Tuesday Dec 13 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, the Dow DJIA, +0.47% climbed 106 points, or 0.6%, to 19,905. If the Dow finishes higher, it will notch its seventh straight gain.
The S&P 500 index SPX, +0.56% gained 10.45 points, or 0.5%, to 2,267 and the tech-heavy Nasdaq Composite Index COMP, +1.02% added 48 points, or 0.9%, to 5,461.
Both the S&P 500 index SPX, +0.56% and Nasdaq Composite COMP, +1.02% ended lower on Monday, with investors appearing reluctant to push shares higher ahead of the Fed meeting
Analysts at Zacks Investment Research upgraded shares of PolyOne Corp. (NYSE: POL) from Sell to Hold today. With a rating of Hold on the stock, PolyOne Corp. has a 52-week high of $38.41. The one-year price target of $36.71 is above the opening price of $34.46, that has caused a fair amount of other analysts to report on the stock recently. Typically, after analysts give an upgrade report on a stock, they will later issue recurring updates, such as a price target change.
Shares of PolyOne Corp. (NYSE: POL) opened at $34.46 on Tuesday trading between $34.29 and $34.56, and last traded at $34.29, a jump of $0.08 or 0.23% over the previous closing price.
PolyOne Corp. (NYSE: POL) currently has a market cap of 2.87B.
PolyOne Corp. (NYSE: POL) Average Daily Trading Volume
20,569 shares traded hands yesterday, below normal, out of a total float 82,689,000. Trading volume is likely to increase in the next few days as swing traders often use increases in trading volume to pinpoint heavy volume aggregation or dissemination by institutional investors.
As with all possible breakouts, investors look for volume to be at least 40%-50% greater than normal on the breakout to show 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 retain substantial teams of analysts researching thousands of stocks. Thus, watching their interests is a good way to ensure you are buying the right stocks.
PolyOne Corp. (NYSE: POL) 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 tracking the activity of these professional investors and how they affect moving averages, traders are able to make make educated trades.
With that in mind, PolyOne Corp. (NYSE: POL) now has a 50-day MA of $31.71 and 200-day MA of $33.98. It has traded in a 52-week range between $22.35 – 38.41 and today’s last price is 10.73%% lower than the 52 week high of $38.41.
Indeed, earnings growth is among the most important things to look at in regards to stock investing and, accordingly, investors identify companies that have increased their earnings at least 25% or more over a 3 year period.
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