Dynegy Inc. (NYSE: DYN) shares were down on Friday January 20 on lower trade volume than normal after a number of analysts weighed in on the investing value of the stock, increasing the price target of stock.
Meanwhile, U.S. stocks rose Friday morning as Wall Street closely awaited Donald Trump’s inauguration as the nation’s 45th president.
The Dow Jones Industrial Average DJIA, +0.41% rose 95 points, or 0.5%, to 19,826, while the S&P 500 index SPX, +0.41% climbed 11 points, or 0.5%, to 2,275 and the Nasdaq Composite COMP, +0.37% added 28 points, or 0.6%, to 5,571.
Dynegy Inc. (NYSE: DYN) had its price target boosted by equities researchers at Barclays PLC from $0.00 to $14.00. Barclays PLC currently has a rating of on the stock. The one-year price target of $13.31 is above the opening price of $9.78, that has caused a number of other analysts to issue statements on the company recently. Looking back over the last year, Dynegy Inc. stock has a high of $22.01.
Shares of Dynegy Inc. (NYSE: DYN) opened at $9.78 yesterday and traded in a range between, $9.63 and $10.02, and last traded at $9.63, which is a decrease of $0.07 from the previous closing price.
Dynegy Inc. (NYSE: DYN) now has a market cap of 1.13B.
Dynegy Inc. (NYSE: DYN) Average Daily Trading Volume
The stock’s average daily volume is 4,040,020 shares out of a total float 82,829,000 and some 257,419 shares traded hands yesterday, 103 percent lower than normal. lower than normal. Look for trading volume to pick up in the coming days as investors often use increases 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 instituitional investors retain teams of analysts researching thousands of stocks. Thus, watching their interests is a good way to make sure you are buying the right stocks.
Dynegy Inc. (NYSE: DYN) 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 investors to make those trends work in their favor and increase the number of successful trades.
With that in mind, Dynegy Inc. (NYSE: DYN) now has a 50-day MA of $8.75 and 200-day MA of $11.77. It has traded in a 52-week range between $7.01 – 22.01 and today’s last price is 56.25%% lower than the 52 week high of $22.01.
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% over the past 3 years.
DISCLOSURE: The views and opinions expressed in this article do not represent the views of the website. Readers should not consider statements made by the author as formal recommendations and should consult their financial adviser before making any investment decisions. To read our full disclosure, please see our terms and conditions page.