Sky Plc (NASDAQ: SKYAY) 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 Sky Plc (NASDAQ: SKYAY) from Hold to Buy today. Zacks Investment Research currently has a rating of Buy on the stock. The one-year price target of $21.00 is lower than the opening price of $50.26, resulting a number of other analysts to report on the stock in recent days. Looking back over the last year, Sky Plc stock has a high of $67.82. Share prices sometimes get a bounce to the upside when analysts upgrade a stock.
Sky Plc (NASDAQ: SKYAY) shares last traded at $50.15, a spike of $0.86 or 1.74% compared to the previous closing price. Opening at $50.26, they varied from $50.15 and $50.27 throughout the day.
Sky Plc (NASDAQ: SKYAY) currently has a market cap of 21,552.18B.
Sky Plc (NASDAQ: SKYAY) Average Daily Trading Volume
13,162 shares crossed the trading desk yesterday, lower than the average, out of a total float 253,463,000. Swing traders often use swings in trading volume to determine substantial volume accumulation or circulation by institutional investors, so trading volume is likely to increase in the next few days.
While an increase in 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 sends a positive signal 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.
Institutional investors such as these retain teams of analysts researching thousands of stocks. Thus, watching their interests is a good way to make sure you are buying the right stocks.
Sky Plc (NASDAQ: SKYAY) 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 identifying trends, moving averages allow investors to make those trends work in their favor and increase the number of winning trades.
With that in mind, Sky Plc (NASDAQ: SKYAY) now has a 50-day MA of $39.79 and 200-day MA of $44.84. It has traded in a 52-week range between $37.23 – 67.82 and today’s last price is 26.05%% lower than the 52 week high of $67.82.
Indeed, earnings growth is among the most critical things to look at in regards to stock investing and, accordingly, investors identify companies that have raised their earnings by at least 25% over a 3 year period.
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