Anthem Inc. (NYSE: ANTM) shares were down on Monday January 23 on lower trade volume than normal after a number of analysts weighed in on the investing value of the stock, raising the price target of stock.
Meanwhile, U.S. stocks flipped between small gains and losses in early trade on Monday.
The Dow Jones Industrial Average DJIA, -0.14% was off by 13 points, or less than 0.1%, at 19,815, with McDonald’s Corp MCD, -0.99% and General Electric CoGE, -0.95% leading the losses, down more than 1%.
The S&P 500 SPX, -0.18% slipped 2 point to 2,270, with five of the main sectors trading lower. The Nasdaq Composite COMP, -0.09% gained 4 points to 5,558.
Anthem Inc. (NYSE: ANTM) had its price target increased by equities researchers at Citigroup from $0.00 to $172.00. Citigroup currently has a rating of on the shares. The one-year price target of $162.06 is higher than the opening price of $150.00, that has caused a number of other analysts to issue statements on the stock recently. Looking back over the last year, Anthem Inc. stock has a high of $151.99.
Shares of Anthem Inc. (NYSE: ANTM) opened at $150.00 yesterday and traded in a range between, $149.32 and $150.24, and last traded at $149.71, which represents a drop of $0.92 over the previous closing price.
Anthem Inc. (NYSE: ANTM) now has a market cap of 39.44B.
Anthem Inc. (NYSE: ANTM) Average Daily Trading Volume
The stock’s average daily volume is 1,615,780 shares out of a total float 263,074,000 and some 109,552 shares crossed the trading desk yesterday, 82 percent below normal. 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.
While increased trading for short periods will not mean much will not mean much, conversely, a trend of heavy trading volume on the buy side over a period of days or weeks sends a positive signal to market traders that institutions may be moving in, so institutional sponsorship is very important.
Institutional sponsorship simply refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These professional investors retain teams of analysts that investigate thousands of stocks, so it is good corroboration to see them buying a stock you are researching.
Anthem Inc. (NYSE: ANTM) 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 tracking the activity of these professional investors—and the moving averages they affect—it allows for traders to make more effective decisions on trades.
Trades for Anthem Inc. (NYSE: ANTM) have ranged from $114.85 – 151.99, and the stock now has a 50-day MA of $145.54 and 200-day MA of $132.86. Today’s last price is 1.50%% under the 52 week high of $151.99.
Earnings growth is a critical factor to consider when investing in stocks and investors identify companies that have grown their earnings by at least 25% over a 3 year period.
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.