TTM Technologies Inc. (NASDAQ: TTMI) shares were down on Wednesday Nov 30 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 Jones Industrial Average hit an intraday record after opening higher Wednesday, led by the energy sector as hopes rose that the world’s major oil producers are near a deal on limiting output.
The benchmark S&P 500 and Dow were on track to post their largest monthly gains since March.
The S&P 500 SPX, +0.22% gained 5 points, or 0.2%, to 2,209. The Dow Jones Industrial Average DJIA, +0.41% added 62 points, or 0.3%, to 19,184, trading in record territory. The Nasdaq Composite COMP, -0.08% was 7 points, or 0.1%, higher at 5,386.
TTM Technologies Inc. (NASDAQ: TTMI) had its price target boosted by equities researchers at Stifel Nicolaus from $13.00 to $15.00. The company currently has a rating of Buy on the stock. The one-year price target of $14.33 is above the opening price of $14.12, resulting a number of other analysts to issue statements on the company recently. Looking back over the last 52 weeks, TTM Technologies Inc. stock has a high of $15.00.
Shares of TTM Technologies Inc. (NASDAQ: TTMI) opened at $14.12 on Tuesday and has traded in a range between, $13.74 and $14.18, and last traded at $13.87, a dip of $0.12 per share or -0.86% from the previous closing price.
TTM Technologies Inc. (NASDAQ: TTMI) currently has a market cap of 1.39B.
TTM Technologies Inc. (NASDAQ: TTMI) Average Daily Trading Volume
The stock’s average daily volume is 2,019,810 shares out of a total float 88,615,000 and some 229,882 shares crossed the trading desk yesterday, below normal. Swing traders often use upticks in trading volume to identify heavy volume growth or dissemination by institutional investors, so trading volume is likely to increase in the next few days.
While increased trading for short periods will not mean much, conversely, a trend of heavy trading volume on the buy side over a series of days or weeks expresses a positive signal to market traders that institutions may be moving in, so institutional sponsorship is very important.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These professional investors have teams of analysts that investigate thousands of stocks. Thus, watching their interests is a good way to ensure you are buying the right stocks.
TTM Technologies Inc. (NASDAQ: TTMI) 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 spotting trends, moving averages allow traders to make those trends work in their favor and increase the number of successful trades.
With that in mind, TTM Technologies Inc. (NASDAQ: TTMI) now has a 50-day MA of $12.74 and 200-day MA of $10.08. It has traded in a 52-week range between $4.67 – 15.00 and today’s last price is 7.53%% lower than the 52 week high of $15.00.
Earnings growth is a crucial factor to research when investing in stocks and investors identify companies that have grown their earnings by at least 25% for the past 3 years.
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