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Stock Investors Bid Up Shares of Joy Global, Up 2.9%

Published on Tue, 04/16/2013 - 10:24
By Adrienne Chilton

Up 2.9% to $54.25, Joy Global (NYSE:JOY), is one of today's notable movers. The Dow Jones Industrial Average is now trading 0.5% higher to 14,670 and the S&P is trading 0.5% higher to 1,561.

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.

Potential upside of 40.8% exists for Joy Global, based on a current level of $54.25 and analysts' average consensus price target of $76.40. The stock should find initial resistance at its 200-day moving average (MA) of $58.70 and further resistance at its 50-day MA of $60.38.

Over the past year, Joy Global has traded in a range of $47.69 to $77.63 and is now at $54.25, 14% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.9%.

By Adrienne Chilton
achilton@fnno.com