Progressive Waste Solutions Ltd. (NYSE: WCN) shares rose on Monday Dec 19 with lower 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, the Dow Jones Industrial Average DJIA, +0.22% was trading up 37 points, or 0.2%, at 19,879, inching up to break the psychologically important 20,000 level.
The S&P 500 index SPX, +0.20% was up 6 points, or 0.3% at 2,264, with nine of the 11 main sectors trading higher.
The Nasdaq Composite Index COMP, +0.32% added 18 points, or 0.3% to 5,455.
Progressive Waste Solutions Ltd. (NYSE: WCN) had its price target raised by equities researchers at Stifel Nicolaus from $85.00 to $90.00. With a rating of Buy on the shares, the company has a 52-week high of $79.71. As a means of comparison, a number of other analysts have spoken on the company recently, and Progressive Waste Solutions Ltd. has earned a consensus one-year price target of $87.00, above the opening price of $77.35.
Progressive Waste Solutions Ltd. (NYSE: WCN) shares last traded at $77.98, which is an increase of $0.46 or 0.59% from the previous closing price. Opening at $77.35, they ranged from $77.25 and $78.20 throughout the day.
Progressive Waste Solutions Ltd. (NYSE: WCN) now has a market cap of 13.64B.
Progressive Waste Solutions Ltd. (NYSE: WCN) Average Daily Trading Volume
49,839 shares traded hands yesterday, lower than the norm, out of a total float 173,609,000. Swing traders often use upticks in trading volume to identify large volume aggregation or dissemination by institutional investors, so look for trading volume to pick up in the coming days.
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 cue to market traders that institutions may be moving in, so institutional sponsorship is critical.
Institutional sponsorship just refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These professional investors retain teams of analysts researching thousands of stocks. So watching their interests is a good way to ensure you are buying the right stocks.
Progressive Waste Solutions Ltd. (NYSE: WCN) 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 the moving averages they influence— traders can make the best trades.
Trades for Progressive Waste Solutions Ltd. (NYSE: WCN) have ranged from $46.21 – 79.71, and the stock now has a 50-day MA of $76.15 and 200-day MA of $74.77. Today’s last price is 2.18%% below the 52 week high of $79.71.
Indeed, earnings growth is among the most crucial things to look at in regards to stock investing and, accordingly, investors watch for companies that have grown their earnings by at least 25% for a 3 year period.
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