Atlas Air Worldwide Holdings (NASDAQ: AAWW) shares rose on Tuesday Dec 13 with lower trade volume than normal after a number of analysts weighed in on the investing value of the stock, increasing the price target of stock.
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
Atlas Air Worldwide Holdings (NASDAQ: AAWW) had its price target raised by equities researchers at Stifel Nicolaus from $54.00 to $58.00. With a rating of Buy on the shares, the company has a 52-week high of $57.77. The one-year price target of $54.50 is above the opening price of $52.45, that has caused a number of other analysts to report on the company in recent days.
Shares of Atlas Air Worldwide Holdings (NASDAQ: AAWW) opened at $52.45 on Tuesday and has traded in a range between, $52.25 and $53.25, and last traded at $52.95, an increase of $1.20 or 2.32% over the previous closing price.
Atlas Air Worldwide Holdings (NASDAQ: AAWW) currently has a market cap of 1.32B.
Atlas Air Worldwide Holdings (NASDAQ: AAWW) Average Daily Trading Volume
68,873 shares traded hands yesterday, lower than the average, out of a total float 24,387,000. Swing traders often use swings in trading volume to identify heavy volume aggregation or distribution by institutional investors, so look for trading volume to pick up in the coming days.
While increased trading for one day will not mean much, conversely, a trend of heavy trading volume on the buy side over a series of days or weeks delivers a positive signal to market traders that institutions may be moving in, so institutional sponsorship is critical.
Institutional sponsorship simply refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These professional investors retain teams of analysts that investigate thousands of stocks, so it is good validation to see them taking a postion in a stock you’re considering.
Atlas Air Worldwide Holdings (NASDAQ: AAWW) 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.
Trades for Atlas Air Worldwide Holdings (NASDAQ: AAWW) have ranged from $31.99 – 57.77, and the stock now has a 50-day MA of $47.51 and 200-day MA of $42.28. Today’s last price is 8.34%% below the 52 week high of $57.77.
Earnings growth is a crucial factor to look at when buying stocks and investors seek companies that have been successful at growing their earnings by at least 25% over 3 consecutive years.
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