Credit Suisse Group AG (NYSE: CS) shares rose in value Thursday Nov 17 with lower trade volume than normal after a number of analysts weighed in on the investing value of the stock with a upgraded rating.
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.
Analysts at Zacks Investment Research upgraded shares of Credit Suisse Group AG (NYSE: CS) from Strong Sell to Hold today. With a rating of Hold on the shares, Credit Suisse Group AG has a 52-week high of $23.38. A number of other analysts have commented on the company recently, and Credit Suisse Group AG has secured a consensus one-year price target of $14.84, higher than the opening price of $14.33, a difference of 10.36 percent. Stock prices sometimes get a jump to the upside when analysts upgrade a stock.
Credit Suisse Group AG (NYSE: CS) shares last traded at $14.33, a spike of $0.07 or 0.49% from the previous closing price. Opening at $14.33, they fluctuated from $14.26 and $14.37 throughout the day.
Credit Suisse Group AG (NYSE: CS) currently has a market cap of 29.93B.
Credit Suisse Group AG (NYSE: CS) Average Daily Trading Volume
The stock’s average daily volume is 4,575,140 shares out of a total float 1,961,176,000 and some 806,545 shares traded hands yesterday, below normal. Look for trading volume to pick up in the coming days as swing traders often use upticks in trading volume to pinpoint substantial volume aggregation or dissemination by institutional investors.
However, one day of significant buy side trading is not enough to assert a trend. So market traders will continue to look for institutional sponsorship as a signal 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 watching their interests is a good way to ensure you are buying the right stocks.
Credit Suisse Group AG (NYSE: CS) 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 Credit Suisse Group AG (NYSE: CS) have ranged from $10.01 – 23.38, and the stock now has a 50-day MA of $13.51 and 200-day MA of $12.76. Today’s last price is 38.71%% under the 52 week high of $23.38.
Earnings growth is an important factor to look at when investing in stocks and investors identify companies that have raised their earnings by at least 25% for 3 consecutive years.
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