Crown Castle International Corporation (NYSE: CCI) shares rose in value in early trading today on slower trade volume than normal after a number of analysts weighed in on the investing value of the stock with a upgraded rating.
Meanwhile, in early trading today the Dow Jones Industrial Average DJIA, +0.19% rose 40 points, or 0.2%, to 19,929 while the S&P 500 SPX, +0.31% added 5 points to 2,275, a rise of 0.2%. The Nasdaq Composite Index COMP, +0.53% climbed 19 points, or 0.3%, to 5,567.
Analysts at Zacks Investment Research upgraded shares of Crown Castle International Corporation (NYSE: CCI) from Hold to Strong-Buy today. With a rating of Strong-Buy on the shares, Crown Castle International Corporation has a 52-week high of $102.82. The one-year price target of $101.94 is above the opening price of $85.20, causing a fair amount of other analysts to report on the stock recently. Typically, after analysts assign an upgrade report on a stock, they will subsequently issue sporadic updates, such as a price target change.
Yesterday Crown Castle International Corporation (NYSE: CCI) shares last traded at $85.50, which is a spike of $0.32 over the previous closing price. Opening at $85.20, they ranged from $85.16 and $85.66 throughout the day.
Crown Castle International Corporation (NYSE: CCI) now has a market cap of 28.86B.
Crown Castle International Corporation (NYSE: CCI) Average Daily Trading Volume
The stock’s average daily volume is 2,837,280 shares out of a total float 335,282,000 and some 77,069 shares traded hands yesterday, 71 percent 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.
As with all potential breakouts, investors look for volume to be at least 40%-50% higher than normal on the breakout to show that fund managers and other professional investors are jumping in.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These professional investors retain substantial teams of analysts that investigate thousands of stocks. So watching their interests is a good way to make sure you are buying the right stocks.
Crown Castle International Corporation (NYSE: CCI) 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 successful trades.
Trades for Crown Castle International Corporation (NYSE: CCI) have ranged from $75.71 – 102.82, and the stock now has a 50-day MA of $85.68 and 200-day MA of $91.79. Today’s last price is 16.84%% under the 52 week high of $102.82.
Earnings growth is a crucial factor to look at when investing in stocks and investors watch for companies that have grown their earnings by at least 25% for the past 3 years.
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