CBOE Holdings, Inc. (NASDAQ: CBOE) shares rose in value Wednesday Jan 4 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 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 Goldman Sachs Group, Inc. (The) upgraded shares of CBOE Holdings, Inc. (NASDAQ: CBOE) from Sell to Buy today. Goldman Sachs Group, Inc. (The) currently has a rating of Buy on the stock. As a means of comparison, a number of other analysts have commented on the stock recently, and CBOE Holdings, Inc. has secured a consensus one-year price target of $71.00, a decrease compared to the opening price of $74.47. CBOE Holdings, Inc. stock has a 52-week high of $77.29. Share prices sometimes get a bounce to the upside when analysts upgrade a stock.
Shares of CBOE Holdings, Inc. (NASDAQ: CBOE) opened at $74.47 on Tuesday trading between $73.64 and $74.74, and last traded at $74.62, an increase of $1.61 or 0.02 compared to the previous closing price.
CBOE Holdings, Inc. (NASDAQ: CBOE) currently has a market cap of 6.07B.
CBOE Holdings, Inc. (NASDAQ: CBOE) Average Daily Trading Volume
The stock’s average daily volume is 889,268 shares out of a total float 76,146,000 and some 76,800 shares traded hands yesterday, lower than the average. lower than normal. Look for trading volume to pick up in the coming days as swing traders often use upticks 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.
These instituitional investors retain substantial teams of analysts researching thousands of stocks. Thus, watching their interests is a good way to ensure you are buying the right stocks.
CBOE Holdings, Inc. (NASDAQ: CBOE) 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 traders to make those trends work in their favor and increase the number of winning trades.
Trades for CBOE Holdings, Inc. (NASDAQ: CBOE) have ranged from $58.43 – 77.29, and the stock now has a 50-day MA of $72.38 and 200-day MA of $68.27. Today’s last price is 0.03% below the 52 week high of $77.29.
Indeed, earnings growth is among the most critical things to look at in regards to stock investing and, accordingly, investors identify companies that have increased their earnings by at least 25% over 3 consecutive years.
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