CBS Corp. (NYSE: CBS) shares rose on Tuesday Dec 13 with lighter trade volume than normal after a number of analysts weighed in on the investing value of the stock, raising 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
CBS Corp. (NYSE: CBS) had its price target increased by equities researchers at Telsey Advisory Group from $57.00 to $66.00. With a rating of Market Perform on the shares, the company has a 52-week high of $64.23. A number of other analysts have spoken on the company recently, and CBS Corp. has secured a consensus one-year price target of $65.09, above the opening price of $62.45, a difference of 10.38 percent.
Shares of CBS Corp. (NYSE: CBS) opened at $62.45 on Tuesday trading between $62.45 and $63.44, and last traded at $62.69, which represents a jump of $0.51 or 0.81% compared to the previous closing price.
CBS Corp. (NYSE: CBS) now has a market cap of 26.94B.
CBS Corp. (NYSE: CBS) Average Daily Trading Volume
The stock’s average daily volume is 5,065,340 shares out of a total float 387,140,000 and some 766,671 shares traded hands yesterday, lower than normal. Momentum traders often use increases in trading volume to identify substantial volume accumulation or distribution by institutional investors, so look for trading volume to pick up in the coming days.
However, one day of heavy buy side trading is not enough to affirm a trend. So market traders will continue to watch for institutional sponsorship as a cue that financial institutions are moving forward.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Professional investors such as these retain substantial teams of analysts researching thousands of stocks, so it is good validation to see them buying a stock you are researching.
CBS Corp. (NYSE: CBS) 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 successful trades.
Trades for CBS Corp. (NYSE: CBS) have ranged from $41.36 – 64.230, and the stock now has a 50-day MA of $59.04 and 200-day MA of $54.94. Today’s last price is 2.41%% below the 52 week high of $64.23.
Earnings growth is a crucial factor to research when buying stocks and investors watch for companies that have raised their earnings by at least 25% for the past 3 years.
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