Relx NV (NYSE: RENX) shares rose in value Thursday December 29 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, U.S. stocks were little changed in early trade Thursday. The S&P 500 SPX, +0.04% rose 0.1% to 2,252, while the Dow DJIA, +0.04% advanced 16 points to 19,850. The Nasdaq Composite COMP, -0.04% was virtually flat at 5,439.
Analysts at Zacks Investment Research upgraded shares of Relx NV (NYSE: RENX) from Sell to Hold today. With a rating of Hold on the shares, Relx NV has a 52-week high of $18.34. A number of other analysts have spoken on the company in recent days, and the company has secured a consensus one-year price target of $21.00, higher than the opening price of $16.60. Stock prices often shift to the upside on recommendations and new price targets of professional analysts.
Shares of Relx NV (NYSE: RENX) opened at $16.60 on Tuesday and has traded in a range between, $16.60 and $16.67, and last traded at $16.66, which represents a jump of $0.14 or 0.85% compared to the previous closing price.
Relx NV (NYSE: RENX) now has a market cap of 34.24B.
Relx NV (NYSE: RENX) Average Daily Trading Volume
8,866 shares traded hands yesterday, below the average, out of a total float 1,986,194,000. Investors often use increases in trading volume to pinpoint heavy volume accumulation or circulation by institutional investors, so trading volume is likely to increase in the next few days.
While higher trading for one day will not mean much, however, a trend of heavy trading volume on the buy side over a series of days or weeks sends a positive indicator to market traders that institutions may be moving in, so institutional sponsorship is critical.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These professional investors retain teams of analysts researching thousands of stocks, so it is good corroboration to see them buying a stock you’re researching.
Relx NV (NYSE: RENX) 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 how they influence moving averages, traders can make well planned trades.
With that in mind, Relx NV (NYSE: RENX) now has a 50-day MA of $16.05 and 200-day MA of $17.01. It has traded in a 52-week range between $14.92 – 18.34 and today’s last price is 9.16%% lower than the 52 week high of $18.34.
Indeed, earnings growth is among the most critical things to look at in regards to stock investing and, accordingly, investors seek companies that have raised their earnings by at least 25% for the past 3 years.
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