SPX (NYSE:SPW) crossed over its 10-day moving average of $65.47 on a volume of 432K shares. This may provide short-term investors a chance for a long position, as such a crossover often suggests higher prices in the near term.
SPX share prices have moved between a 52-week high of $106.57 and a 52-week low of $62.18 and are now trading 7% above that low price at $66.76 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has declined 1.2%.
SPX (NYSE:SPW) has potential upside of 31.4% based on a current price of $66.76 and analysts' consensus price target of $87.71. The stock should find initial resistance at its 50-day moving average (MA) of $71.12 and further resistance at its 200-day MA of $82.04.
SPX Corporation is a global provider of technical products and systems, industrial products and services, service solutions, and vehicle components. The Company designs, manufactures, and markets data networking equipment, fire detection equipment, power transformers, TV and radio broadcast equipment, and a variety of specialty tools, equipment, and services.