OBALON THERPTCS (NASDAQ: OBLN) shares rose on Monday January 23 on lower trade volume than normal after a number of analysts weighed in on the investing value of the stock and reiterated thier respective ratings.
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.
OBALON THERPTCS (NASDAQ: OBLN) had its Buy rating reiterated by equities researchers at Canaccord Genuity in a research note to investors. The company currently has a rating of Buy on the stock. A number of other analysts have spoken on the stock in recent days, and OBALON THERPTCS has secured a consensus one-year price target of $19.00, above the opening price of $11.62, a difference of 16.59 percent. OBALON THERPTCS stock has a 52-week high of $15.88. Usually, after analysts publish a “reiterated rating” report on a stock, they will subsequently issue recurring revisions, usually followed by a price target change.
Yesterday OBALON THERPTCS (NASDAQ: OBLN) shares last traded at $11.45, which represents an increase of $0.12 from the previous closing price. Opening at $11.62, they varied from $10.75 and $11.62 throughout the day.
OBALON THERPTCS (NASDAQ: OBLN) now has a market cap of 192.04M.
OBALON THERPTCS (NASDAQ: OBLN) Average Daily Trading Volume
The stock’s average daily volume is 85,621 shares out of a total float 7,492,000 and some 16,095 shares crossed the trading desk yesterday, 105 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.
However, a single day of heavy buy side trading is not enough to assert a trend. As such, market traders will continue to watch for institutional sponsorship as a signal that financial institutions are moving forward.
Institutional sponsorship commonly refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These instituitional investors retain teams of analysts that research thousands of stocks, so it is good confirmation to see them taking a postion in a stock you’re researching.
OBALON THERPTCS (NASDAQ: OBLN) 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 successful trades.
Trades for OBALON THERPTCS (NASDAQ: OBLN) have ranged from $8.27 – 15.88, and the stock now has a 50-day MA of $9.69 and 200-day MA of $11.01. Today’s last price is 27.90%% below the 52 week high of $15.88.
Earnings growth is a critical factor to look at when buying stocks and investors watch for companies that have increased their earnings at least 25% or more for 3 consecutive 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.