Ixia (NASDAQ: XXIA) shares rose on Wednesday January 25 on lighter 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.
Ixia (NASDAQ: XXIA) had its price target increased by equities researchers at Stifel Nicolaus from $18.50 to $20.00. With a rating of Buy on the stock, the company has a 52-week high of $18.06. As a means of comparison, a number of other analysts have commented on the stock in recent days, and Ixia has earned a consensus one-year price target of $15.90, a decrease compared to the opening price of $17.25, a difference of 8.96 percent.
Yesterday Ixia (NASDAQ: XXIA) shares last traded at $17.75, which is a spike of $1.20 compared to the previous closing price. Opening at $17.25, they varied from $17.25 and $18.06 throughout the day.
Ixia (NASDAQ: XXIA) currently has a market cap of 1.46B.
Ixia (NASDAQ: XXIA) Average Daily Trading Volume
The stock’s average daily volume is 628,698 shares out of a total float 72,115,000 and some 544,217 shares crossed the trading desk yesterday, 65 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 commonly refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Institutional investors such as these retain teams of analysts researching thousands of stocks. So watching their interests is a good way to ensure you are buying the right stocks.
Ixia (NASDAQ: XXIA) 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.
Trades for Ixia (NASDAQ: XXIA) have ranged from $8.50 – 18.06, and the stock now has a 50-day MA of $16.41 and 200-day MA of $13.17. Today’s last price is 1.69%% lower than the 52 week high of $18.06.
Earnings growth is a critical factor to look at when buying stocks and investors identify companies that have raised their earnings at least 25% or more over 3 consecutive years.
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