Dish Network Corp. (NASDAQ: DISH) shares rose in value on Monday January 23 on 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 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.
Analysts at Morgan Stanley upgraded shares of Dish Network Corp. (NASDAQ: DISH) from Equal Weight to Overweight today. Morgan Stanley currently has a rating of Overweight on the stock. The one-year price target of $73.14 is higher than the opening price of $61.12, that has caused a number of other analysts to comment on the stock recently. Looking back over the last year, Dish Network Corp. stock has a high of $62.97. Stock prices sometimes get a jump to the upside when analysts upgrade a stock.
Yesterday Dish Network Corp. (NASDAQ: DISH) shares last traded at $61.26, which is a jump of $1.12 compared to the previous closing price. Opening at $61.12, they ranged from $60.89 and $62.03 throughout the day.
Dish Network Corp. (NASDAQ: DISH) now has a market cap of 28.49B.
Dish Network Corp. (NASDAQ: DISH) Average Daily Trading Volume
538,901 shares traded hands yesterday, 38 percent below the norm, out of a total float 219,059,000. 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.
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.
Professional investors such as these retain teams of analysts that research thousands of stocks, so it is good validation to see them buying a stock you’re researching.
Dish Network Corp. (NASDAQ: DISH) 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 traders to make those trends work in their favor and increase the number of winning trades.
With that in mind, Dish Network Corp. (NASDAQ: DISH) now has a 50-day MA of $59.60 and 200-day MA of $55.05. It has traded in a 52-week range between $38.85 – 62.97 and today’s last price is 2.72%% lower than the 52 week high of $62.97.
Indeed, earnings growth is among the most crucial things to look at in regards to stock investing and, accordingly, investors identify companies that have increased their earnings by at least 25% for 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.