CNO Financial Group Inc. (NYSE: CNO) 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, boosting 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.
CNO Financial Group Inc. (NYSE: CNO) had its price target raised by equities researchers at Deutsche Bank from $0.00 to $19.00. With a rating of on the stock, the company has a 52-week high of $20.55. The one-year price target of $20.64 is higher than the opening price of $19.11, causing a number of other analysts to issue statements on the stock in recent days.
Yesterday CNO Financial Group Inc. (NYSE: CNO) shares last traded at $19.16, a decrease of $0.02 compared to the previous closing price. Opening at $19.11, they fluctuated from $18.94 and $19.18 throughout the day.
CNO Financial Group Inc. (NYSE: CNO) currently has a market cap of 3.33B.
CNO Financial Group Inc. (NYSE: CNO) Average Daily Trading Volume
53,340 shares crossed the trading desk yesterday, 81 percent below normal, out of a total float 171,380,000. lower than normal. Look for trading volume to pick up in the coming days as swing traders 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 commonly refers to 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.
CNO Financial Group Inc. (NYSE: CNO) 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 investors to make those trends work in their favor and increase the number of successful trades.
With that in mind, CNO Financial Group Inc. (NYSE: CNO) now has a 50-day MA of $19.15 and 200-day MA of $16.97. It has traded in a 52-week range between $14.30 – 20.55 and today’s last price is 6.76%% lower than the 52 week high of $20.55.
Earnings growth is a critical factor to look at when buying stocks and investors watch for companies that have been successful at growing their earnings by at least 25% for 3 consecutive years.
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