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Trading Lower on Heavy Volume are Shares of KKR Financial Holdings on 1.3x Above-Average Volume (KFN)

Published on Tue, 01/08/2013 - 14:13
By Adrienne Chilton

KKR Financial Holdings shares are trading on heavy volume today, having fallen 1.3% to $10.85. Today's volume of 1.1 million shares tops the average 30-day volume of 847,000 shares. Spikes in volume can validate a breakout or signify a potential turning point.

KKR Financial Holdings LLC is a specialty finance company that invests in multiple asset classes. The Company invests in debt securities and marketable and non-marketable equity securities. KKR Financial Holdings is externally managed by KKR Financial Advisors LLC, an affiliate of Kohlberg Kravis Roberts & Co. L.P.

Potential upside of 10.6% exists for KKR Financial Holdings, based on a current level of $10.85 and analysts' average consensus price target of $12.00. The stock should find initial support at its 50-day moving average (MA) of $10.37 and further support at its 200-day MA of $9.45.

Over the past year, KKR Financial Holdings has traded in a range of $7.95 to $11.11 and is now at $10.85, 36% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.4% while the 200-day MA has risen 0.2%.

By Adrienne Chilton
achilton@fnno.com