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NASDAQ OMX (NDAQ) Approaches New Upside Target of $31.48

Published on Fri, 02/22/2013 - 10:40
By Mallory Stone

NASDAQ OMX (NASDAQ:NDAQ) has opened bullishly above the pivot of $30.99 today and has reached the first level of resistance at $31.23. Should the shares continue to rise, the resistance pivots of $31.48 and $31.97 will be of interest.

NASDAQ OMX share prices have moved between a 52-week high of $32.15 and a 52-week low of $21.03 and are now trading 49% above that low price at $31.31 per share. The 200-day and 50-day moving averages have moved 0.44% higher and 1.68% higher over the past week, respectively.

NASDAQ OMX (NASDAQ:NDAQ) is currently priced 3.1% above its average consensus analyst price target of $30.34. The stock should discover initial support at its 50-day moving average (MA) of $27.21 and subsequent support at its 200-day MA of $24.10.

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.

By Mallory Stone