Voya Financial Inc. (NYSE: VOYA) shares rose on Monday January 23 on lighter 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 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.
Voya Financial Inc. (NYSE: VOYA) had its price target raised by equities researchers at Deutsche Bank from $0.00 to $48.00. With a rating of on the shares, Voya Financial Inc. has a 52-week high of $41.17. The one-year price target of $44.62 is higher than the opening price of $39.56, that has caused a number of other analysts to comment on the company recently.
Yesterday Voya Financial Inc. (NYSE: VOYA) shares last traded at $40.03, which represents a spike of $0.32 over the previous closing price. Opening at $39.56, they fluctuated from $39.31 and $40.13 throughout the day.
Voya Financial Inc. (NYSE: VOYA) now has a market cap of 7.79B.
Voya Financial Inc. (NYSE: VOYA) Average Daily Trading Volume
The stock’s average daily volume is 1,831,520 shares out of a total float 194,372,000 and some 135,530 shares traded hands yesterday, 107 percent lower than the norm. 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 is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Professional investors such as these have teams of analysts that research thousands of stocks. Thus, watching their interests is a good way to ensure you are buying the right stocks.
Voya Financial Inc. (NYSE: VOYA) 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.
With that in mind, Voya Financial Inc. (NYSE: VOYA) now has a 50-day MA of $39.90 and 200-day MA of $32.10. It has traded in a 52-week range between $22.75 – 41.17 and today’s last price is 2.77%% lower than the 52 week high of $41.17.
Earnings growth is a critical factor to consider when investing in stocks and investors look for companies that have raised their earnings at least 25% or more over the past 3 years.
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