Axalta Coating Systems Ltd (NASDAQ: AXTA) shares rose on Wednesday Jan 4 with lower trade volume than normal after a number of analysts weighed in on the investing value of the stock and reiterated thier respective ratings.
Meanwhile, U.S. stocks opened higher on Wednesday as banking stocks led the Dow Jones Industrial Average closer to the 20,000 milestone.
The Dow DJIA, +0.18% gained 25 points, or 0.1%, to 19,906. The S&P 500 SPX, +0.36% climbed four points, or 0.2%, to 2,262. The Nasdaq Composite Index COMP, +0.50% added 13 points, or 0.3%, to 5,447.
Analysts at RBC Capital Markets reiterated a Buy rating on shares of Axalta Coating Systems Ltd (NASDAQ: AXTA) in a reserach note to investors, making it one of the more closely watched stocks on Wall Street. The company currently has a rating of Buy on the shares. The one-year price target of $31.13 is above the opening price of $27.80, that has caused a number of other analysts to report on the company recently. Looking back over the last year, Axalta Coating Systems Ltd stock has a high of $30.45. Stock prices often move to the upside on recommendations and new price targets of professional brokerage firms.
Shares of Axalta Coating Systems Ltd (NASDAQ: AXTA) opened at $27.80 on Tuesday and has traded in a range between, $27.78 and $27.96, and last traded at $27.85, which represents a jump of $0.20 or 0.01 from the previous closing price.
Axalta Coating Systems Ltd (NASDAQ: AXTA) now has a market cap of 6.70B.
Axalta Coating Systems Ltd (NASDAQ: AXTA) Average Daily Trading Volume
217,602 shares crossed the trading desk yesterday, below normal, out of a total float 215,605,000. lower than normal. Look for trading volume to pick up in the coming days as swing traders often use swings in trading volume to identify heavy volume accumulation or distribution by institutional investors.
However, a single day of heavy buy side trading is not enough to assert a trend. As such, market traders will continue to watch 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.
Institutional investors such as these have substantial teams of analysts researching thousands of stocks. So watching their interests is a good way to make sure you are buying the right stocks.
Axalta Coating Systems Ltd (NASDAQ: AXTA) 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.
Trades for Axalta Coating Systems Ltd (NASDAQ: AXTA) have ranged from $20.67 – 30.45, and the stock now has a 50-day MA of $26.62 and 200-day MA of $27.15. Today’s last price is 0.09% below the 52 week high of $30.45.
Indeed, earnings growth is among the most critical things to look at in regards to stock investing and, accordingly, investors seek companies that have increased their earnings by at least 25% for the past 3 years.
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