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NASDAQ OMX (NDAQ) Approaches New Upside Target of $27.70

Published on Fri, 01/25/2013 - 13:39
By Adrienne Chilton

Shares of NASDAQ OMX (NASDAQ:NDAQ) have bullishly opened above the pivot of $27.50 today and have reached the first resistance level of $27.60. Investors may be interested in a cross of the next upside pivot targets of $27.70 and $27.90.

The NASDAQ OMX Group, Inc. is a global exchange group that delivers trading, exchange technology, securities listing, and public company services across multiple continents. The Exchange's offerings include trading across multiple asset classes, market data products, financial indexes, capital formation solutions, financial services and market technology products and services.

Potential upside of 4.4% exists for NASDAQ OMX, based on a current level of $27.65 and analysts' average consensus price target of $28.86. The stock should find initial support at its 50-day moving average (MA) of $24.94 and further support at its 200-day MA of $23.65.

In the past 52 weeks, shares of NASDAQ OMX have traded between a low of $21.03 and a high of $27.72 and are now at $27.65, which is 31% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.9%.

By Adrienne Chilton