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Investment Technology Group Crosses Above its 10-day MA (ITG)

Published on Wed, 01/02/2013 - 12:44
By Mallory Stone

Investment Technology Group (NYSE:ITG) crossed over its 10-day moving average of $9.14 on a volume of 108K shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

Over the past year, Investment Technology Group has traded in a range of $7.43 to $12.36 and is now at $9.33, 26% above that low. The 200-day and 50-day moving averages have moved 0.47% lower and 0.42% higher over the past week, respectively.

Investment Technology Group, Inc. offers securities trading services. The Company offers pre-trade analysis, trade execution, and post-trade evaluation services.

Investment Technology Group (NYSE:ITG) has potential upside of 2.9% based on a current price of $9.33 and analysts' consensus price target of $9.60. The stock should discover initial support at its 200-day moving average (MA) of $9.10 and subsequent support at its 50-day MA of $8.66.

By Mallory Stone
mstone@fnno.com