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Shares of Moody's Rise Above Previous 52-Week High

Published on Wed, 01/09/2013 - 15:16
By Robert Cotter

Moody's (NYSE:MCO) traded at a new 52-week high today of $53.22. Approximately 2.1 million shares have changed hands today, as compared to an average 30-day volume of 1.8 million shares.

Over the past year, Moody's has traded in a range of $33.86 to $53.22 and is now at $53.16, 57% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.9% while the 200-day MA has risen 0.4%.

Moody's Corporation is a credit rating, research, and risk analysis firm. The Company provides credit ratings and related research, data and analytical tools, quantitative credit risk measures, risk scoring software, and credit portfolio management solutions and securities pricing software and valuation models.

Moody's (NYSE:MCO) defies analysts with a current price ($53.16) 7.4% above its average consensus price target of $49.25. The stock should discover initial support at its 50-day moving average (MA) of $48.50 and subsequent support at its 200-day MA of $42.06.

By Robert Cotter
rcotter@fnno.com