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T Rowe Price (TROW) Breaks Through Resistance at $72.14

Published on Tue, 02/05/2013 - 10:43
By Peter Chu

Shares of T Rowe Price (NASDAQ:TROW) opened today above their pivot of $71.81 and have already reached the first level of resistance at $72.14. Analysts will be watching for a cross of the next upside pivot targets of $72.75 and $73.69.

T. Rowe Price Group Inc. is a financial services holding company. The Company, through its subsidiaries, provides investment advisory services to individual and institutional investors. T. Rowe manages a broad range of U.S. and international stock, blended asset, bond, and money market mutual funds and other investment portfolios.

There is potential upside of 1.3% for shares of T Rowe Price based on a current price of $72.26 and an average consensus analyst price target of $73.18. The stock should discover initial support at its 50-day moving average (MA) of $67.27 and subsequent support at its 200-day MA of $63.18.

In the past 52 weeks, shares of T Rowe Price have traded between a low of $54.47 and a high of $73.22 and are now at $72.26, which is 33% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has risen 0.2%.

By Peter Chu
pchu@fnno.com

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