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Cia de Saneamento Basico do Estado de Sao Paulo's Shares Changing Hands at Higher Prices on 1.6x Above-Average Volume (SBS)

Published on Fri, 09/06/2013 - 13:09
By Mallory Stone

Cia de Saneamento Basico do Estado de Sao Paulo shares are trading on heavy volume today, having risen 7.7% to $10.16. Today's volume of 3.1 million shares tops the average 30-day volume of 1.9 million shares. Spikes in volume can validate a breakout or signify a potential turning point.

There is potential upside of 84.7% for shares of Cia de Saneamento Basico do Estado de Sao Paulo based on a current price of $10.16 and an average consensus analyst price target of $18.77. The stock should find resistance at its 200-day moving average (MA) of $13.11, as well as support at its 50-day MA of $9.64.

Over the past year, Cia de Saneamento Basico do Estado de Sao Paulo has traded in a range of $8.25 to $16.35 and is now at $10.16, 23% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has declined 0.6%.

Companhia de Saneamento Basico do Estado de Sao Paulo - SABESP collects, treats, and distributes water. The Company also engineers and constructs water distribution infrastructure and water treatment systems. SABESP operates in the Brazilian State of Sao Paulo.

By Mallory Stone
mstone@fnno.com