Tucows Inc. (NASDAQ: TCX) shares rose in value on Wednesday January 25 on lighter trade volume than normal after a number of analysts weighed in on the investing value of the stock with a upgraded rating.
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.
Analysts at Zacks Investment Research upgraded shares of Tucows Inc. (NASDAQ: TCX) from Hold to Strong-Buy today. With a rating of Strong-Buy on the shares, the company has a 52-week high of $50.30. A number of other analysts have commented on the stock in recent days, and Tucows Inc. has earned a consensus one-year price target of $47.00, a decrease compared to the opening price of $49.30. Share prices often shift to the upside on recommendations and new price targets of professional analysts.
Yesterday Tucows Inc. (NASDAQ: TCX) shares last traded at $49.91, which represents an increase of $0.96 over the previous closing price. Opening at $49.30, they fluctuated from $49.10 and $50.30 throughout the day.
Tucows Inc. (NASDAQ: TCX) now has a market cap of 521.46M.
Tucows Inc. (NASDAQ: TCX) Average Daily Trading Volume
32,624 shares traded hands yesterday, 29 percent lower than normal, out of a total float 7,490,000. 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 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 investigate thousands of stocks. Thus, watching their interests is a good way to ensure you are buying the right stocks.
Tucows Inc. (NASDAQ: TCX) 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, Tucows Inc. (NASDAQ: TCX) now has a 50-day MA of $37.13 and 200-day MA of $31.39. It has traded in a 52-week range between $18.30 – 50.3000 and today’s last price is 0.78%% lower than the 52 week high of $50.30.
Indeed, earnings growth is among the most important things to look at in regards to stock investing and, accordingly, investors identify companies that have raised their earnings at least 25% or more for the past 3 years.
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