YY Inc. (NASDAQ: YY) shares closed lower on Monday February 13 on lower trade volume than normal after more analysts initiated coverage on the stock.
Meanwhile U.S. stock-market indexes opened higher on Monday, setting intraday all-time highs shortly after market open. The S&P 500 SPX, +0.35% opened up 6 points, or 0.2%, at 2,322.
The Nasdaq Composite COMP, +0.44% began the session up 18 points, or 0.3% higher at 5,752. The Dow Jones Industrial Average DJIA, +0.51% added 64 points or 0.3%, to 20,340 at the open.
Analysts at Instinet initiated coverage on YY Inc. (NASDAQ: YY) stock, rating the company at Neutral. With a rating of Neutral on the shares, YY Inc. has a 52-week high of $63.96. The one-year price target of $60.61 is above the opening price of $44.58, causing a fair amount of other analysts to report on the stock recently. Analysts and brokerage firms will subsequently issue periodic updates after initiating coverage,. Changes in price targets are not uncommon.
Shares of YY Inc. (NASDAQ: YY) opened at $44.58 yesterday and traded in a range between, $43.92 and $45.06, and last traded at $44.16, which represents a dip of $0.32 compared to the previous closing price.
YY Inc. (NASDAQ: YY) currently has a market cap of 2.44B.
YY Inc. (NASDAQ: YY) Average Daily Trading Volume
The stock’s average daily volume is 936,400 shares out of a total float 32,685,000 and some 189,421 shares traded hands yesterday, 1 percent below normal. lower than normal. Look for trading volume to pick up in the coming days as investors often use upticks in trading volume to identify heavy volume accumulation or distribution by institutional investors.
As with all potential breakouts, investors look for volume to be at least 40%-50% higher 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.
Professional investors such as these have substantial teams of analysts that research thousands of stocks, so it is good corroboration to see them buying a stock you’re researching.
YY Inc. (NASDAQ: YY) 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.
With that in mind, YY Inc. (NASDAQ: YY) now has a 50-day MA of $41.61 and 200-day MA of $46.48. It has traded in a 52-week range between $31.07 – 63.96 and today’s last price is 30.96%% lower than the 52 week high of $63.96.
Earnings growth is an important factor to consider when investing in stocks and investors look for companies that have increased their earnings at least 25% or more over a 3 year period.
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