Flextronics International Ltd. (NASDAQ: FLEX) shares rose yesterday on heavier trade volume than normal after a number of analysts weighed in on the investing value of the stock and reiterated thier respective ratings.
Goldman Sachs Group Inc. analysts reiterated its Conviction-Buy rating on Flextronics International Ltd. (NASDAQ: FLEX) in a note to investors, making it one of the more closely watched stocks on Wall Street. Goldman Sachs Group Inc. currently has a rating of Conviction-Buy on the shares. As a means of comparison, a number of other analysts have issued reports on the company recently, and the company has secured a consensus one-year price target of $14.54, higher than the opening price of $13.86. Flextronics International Ltd. stock has a 52-week high of $14.15. Stock prices often move to the upside on recommendations and new price targets of professional brokerage firms.
Meanwhile, the Dow Jones Industrial Average DJIA, +0.62% finished up 112.58 points, or 0.6%, at 18,281.03 yesterday.
The Nasdaq Composite Index COMP, +0.50% rose 26.36 points, or 0.5%, to end at 5,316.02, and is up 0.1% for the week to date.
The S&P 500 index SPX, +0.43% added 9.24 points, or 0.4%, to close at 2,159.73.
Flextronics International Ltd. (NASDAQ: FLEX) shares last traded at $14.04, which is a spike of $0.42 or 0.03 over the previous closing price. Opening at $13.86, they varied from $13.78 and $14.15 throughout the day.
Flextronics International Ltd. (NASDAQ: FLEX) currently has a market cap of 7.67B.
Flextronics International Ltd.Trading Volume
7,933,719 shares crossed the trading desk yesterday, higher than normal, out of a total float 493,917,000. Excessive volume aggregation by institutional investors may be on the horizon as the combination of significant expansions in trading volume and price inflation can be indicative factors.
However, just a day of heavy buy side trading is not enough to affirm a trend. As such, 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.
These instituitional investors have teams of analysts that research thousands of stocks. So watching their interests is a good way to ensure you are buying the right stocks.
Flextronics International Ltd. 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 following the activity of these professional investors—and the moving averages they influence— traders can make smarter trades.
With that in mind, Flextronics International Ltd. (NASDAQ: FLEX) now has a 50-day MA of $13.17 and 200-day MA of $12.60. It has traded in a 52-week range between $8.85 – 14.15 and today’s last price is 0.01% lower than the 52 week high of $14.15.
Indeed, earnings growth is among the most critical things to look at in regards to stock investing and, accordingly, investors identify companies that have been successful at growing their earnings at least 25% or more over the past 3 years.
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