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McGraw-Hill (MHP) Crosses Pivot Point Support at $46.91

Published on Wed, 02/06/2013 - 10:39
By Peter Chu

Shares of McGraw-Hill (NYSE:MHP) have bearishly opened below the pivot of $52.65 today and have reached the first support level of $46.91. Investors may be interested in a cross of the next downside pivot targets of $43.52 and $34.39.

The McGraw-Hill Companies, Inc. is a global information services provider. The Company operates in the finance, business, education, construction, medical and health, energy, automotive, aerospace, defense, and broadcasting markets. McGraw-Hill uses a variety of media, including books, magazines, newsletters, software, on-line data services,CD-ROMs, facsimile, and television broadcasting.

McGraw-Hill share prices have moved between a 52-week high of $58.62 and a 52-week low of $42.02 and are now trading 7% above that low price at $45.00 per share. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has remained constant.

Potential upside of 35.6% exists for McGraw-Hill, based on a current level of $45.00 and analysts' average consensus price target of $61.00. The stock should run into initial resistance at its 200-day moving average (MA) of $50.46 and subsequent resistance at its 50-day MA of $54.39.

By Peter Chu
pchu@fnno.com