Vodafone Group PLC (NASDAQ: VOD) shares rose on Tuesday Dec 6 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, U.S. stocks looked for direction on Tuesday with the Dow industrials trying for a fresh record a day after closing at an all-time high in the previous session.
The Dow Jones Industrial Average DJIA, -0.08% opened little-changed at 19,221, the S&P 500 index SPX, -0.01% climbed 2 points, or 0.1%, at 2,206, while the Nasdaq Composite Index COMP, +0.20%
Vodafone Group PLC (NASDAQ: VOD) had its Buy rating reiterated by equities researchers at JPMorgan Chase & Co. in a research note to investors. With a rating of Buy on the shares, Vodafone Group PLC has a 52-week high of $34.70. The one-year price target of $37.83 is above the opening price of $24.50, that has caused a number of other analysts to comment on the stock in recent days. Share prices sometimes get a spike to the upside when analysts reiterate coverage.
Vodafone Group PLC (NASDAQ: VOD) shares last traded at $24.38, a spike of $0.05 or 0.21% compared to the previous closing price. Opening at $24.50, they ranged from $24.35 and $24.51 throughout the day.
Vodafone Group PLC (NASDAQ: VOD) currently has a market cap of 64,892.81B.
Vodafone Group PLC (NASDAQ: VOD) Average Daily Trading Volume
1,141,592 shares traded hands yesterday, lower than the norm, out of a total float 2,612,327,000. Trading volume is likely to increase in the next few days as momentum traders often use upticks in trading volume to identify heavy volume growth 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 demonstrate 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.
Institutional investors such as these have teams of analysts that investigate thousands of stocks. Thus, watching their interests is a good way to ensure you are buying the right stocks.
Vodafone Group PLC (NASDAQ: VOD) 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 smarter trades when they follow the trading habits of professional investors.
Trades for Vodafone Group PLC (NASDAQ: VOD) have ranged from $24.17 – 34.70, and the stock now has a 50-day MA of $26.47 and 200-day MA of $29.67. Today’s last price is 29.74%% under the 52 week high of $34.70.
Indeed, earnings growth is among the most important things to look at in regards to stock investing and, accordingly, investors identify companies that have been successful at growing their earnings by at least 25% over a 3 year period.
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