Chemours Co. (NYSE: CC) shares rose on Thursday Nov 17 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, stocks opened flat this morning, struggling for direction in early trade ahead of congressional testimony by Federal Reserve Chairwoman Janet Yellen. Ahead of an appearance before the Joint Economic Committee, Yellen said an interest-rate hike could come “relatively soon,”
The S&P 500 SPX, +0.25% fell less than 0.1% to 2,176.85 while Dow Industrials DJIA, -0.05% fell 9 points to 18,858. The Nasdaq Composite COMP, +0.18% declined 0.1% to 5,291.48.
Chemours Co. (NYSE: CC) had its price target raised by equities researchers at Jefferies Group from $0.00 to $25.00. With a rating of on the stock, Chemours Co. has a 52-week high of $22.23. The one-year price target of $19.00 is lower than the opening price of $22.00, causing a fair amount of other analysts to issue statements on the company recently.
Shares of Chemours Co. (NYSE: CC) opened at $22.00 on Monday trading between $21.94 and $22.22, and last traded at $22.20, a jump of $0.20 or 0.91% over the previous closing price.
Chemours Co. (NYSE: CC) now has a market cap of 4.04B.
Chemours Co. (NYSE: CC) Average Daily Trading Volume
The stock’s average daily volume is 2,713,460 shares out of a total float 164,674,000 and some 264,592 shares traded hands yesterday, lower than the average. Trading volume is likely to increase in the next few days as swing traders often use upticks in trading volume to determine heavy volume growth or dissemination by institutional investors.
As with all possible 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 just refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Professional investors such as these have substantial teams of analysts researching thousands of stocks. Thus, watching their interests is a good way to make sure you are buying the right stocks.
Chemours Co. (NYSE: CC) 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 Chemours Co. (NYSE: CC) have ranged from $3.06 – 22.2300, and the stock now has a 50-day MA of $17.14 and 200-day MA of $12.14. Today’s last price is 0.14%% lower than the 52 week high of $22.23.
Indeed, earnings growth is among the most important things to look at in regards to stock investing and, accordingly, investors identify companies that have raised their earnings at least 25% or more for a 3 year period.
DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of the website. Readers should not consider statements made by the author as formal recommendations and should consult their financial adviser before making any investment decisions. To read our full disclosure, please see our terms and conditions page.