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Watch for Shares of T Rowe Price (TROW) to Approach Resistance at $72.81

Published on Fri, 02/01/2013 - 10:43
By Adrienne Chilton

Shares of T Rowe Price (NASDAQ:TROW) have bullishly opened above the pivot of $71.43 today and have reached the first resistance level of $72.11. Analysts will be watching for a cross of the next upside pivot targets of $72.81 and $74.19.

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.

Over the past year, T Rowe Price has traded in a range of $54.47 to $72.65 and is now at $72.42, 33% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 1.0%.

T Rowe Price (NASDAQ:TROW) is currently priced 0.5% above its average consensus analyst price target of $72.05. The stock should discover initial support at its 50-day moving average (MA) of $66.97 and subsequent support at its 200-day MA of $63.09.

By Adrienne Chilton