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Shares of Joy Global Under Pressure, Down 3.4%

Published on Tue, 03/19/2013 - 12:15
By Peter Chu

Joy Global (NYSE:JOY) is one of today's biggest movers, down 3.4% to $59.69. The Dow Jones Industrial Average is now trading 0.2% lower to 14,420 and the S&P is trading 0.5% lower to 1,545.

Joy Global has overhead space with shares priced $59.69, or 21.9% below the average consensus analyst price target of $76.40. The stock should find resistance at its 50-day moving average (MA) of $63.83, as well as support at its 200-day MA of $58.58.

Joy Global Inc. manufactures and markets underground mining equipment and surface mining equipment. The Company's equipment is used for the extraction of ores and minerals.

Joy Global share prices have moved between a 52-week high of $81.09 and a 52-week low of $47.69 and are now trading 25% above that low price at $59.69 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.3% while the 200-day MA has remained constant.

By Peter Chu
pchu@fnno.com