Agrium Inc. (NYSE: AGU) shares rose on Wednesday January 25 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, the Dow Jones Industrial Average on Wednesday crossed the 20,000 level for the first time, while the S&P 500 and Nasdaq Composite also traded in record territory shortly after the market opened
The Dow Jones Industrial Average DJIA, +0.60% advanced 100 points, or 0.5%, to 20,012,
The S&P 500 index SPX, +0.55% gained 10 points, or 0.5%, to 2,289, with eight of the main 11 sectors trading higher.
The Nasdaq Composite index COMP, +0.66% was 30 points, or 0.6%, higher at 5,630.
All three main indexes set intraday records shortly after the opening bell.
Agrium Inc. (NYSE: AGU) had its price target boosted by equities researchers at Credit Suisse Group from $0.00 to $100.00. With a rating of on the stock, the company has a 52-week high of $111.88. The one-year price target of $103.24 is less than the opening price of $110.15, that has caused a number of other analysts to comment on the company recently.
Shares of Agrium Inc. (NYSE: AGU) opened at $110.15 yesterday trading between $110.00 and $111.88, and last traded at $111.87, which represents a jump of $1.60 compared to the previous closing price.
Agrium Inc. (NYSE: AGU) currently has a market cap of 15.46B.
Agrium Inc. (NYSE: AGU) Average Daily Trading Volume
88,647 shares traded hands yesterday, 87 percent lower than the average, out of a total float 138,059,000. lower than normal. Look for trading volume to pick up in the coming days as investors 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 is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Institutional investors such as these retain 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.
Agrium Inc. (NYSE: AGU) 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, Agrium Inc. (NYSE: AGU) now has a 50-day MA of $103.07 and 200-day MA of $95.40. It has traded in a 52-week range between $79.94 – 111.88 and today’s last price is 0.01%% lower than the 52 week high of $111.88.
Indeed, earnings growth is among the most crucial things to look at in regards to stock investing and, accordingly, investors watch for companies that have been successful at growing their earnings by at least 25% for a 3 year period.
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