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Trading Higher on Heavy Volume are Shares of Investment Technology Group on 1.3x Above-Average Volume (ITG)

Published on Fri, 02/01/2013 - 14:16
By Peter Chu

Shares of Investment Technology Group are trading today in above average volume, with the share price rising 3.3% to $10.45. Today's volume of 443,000 shares tops the average 30-day volume of 337,000 shares. Unusually high volume can signify a potential turning point or validate a breakout.

Over the past year, Investment Technology Group has traded in a range of $7.43 to $12.36 and is now at $10.45, 41% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.6%.

Investment Technology Group, Inc. offers securities trading services. The Company offers pre-trade analysis, trade execution, and post-trade evaluation services.

Investment Technology Group (NYSE:ITG) is currently priced 5.3% above its average consensus analyst price target of $9.90. The stock should discover initial support at its 50-day moving average (MA) of $9.27 and subsequent support at its 200-day MA of $8.90.

By Peter Chu
pchu@fnno.com