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Volume Spike Detected in Shares of KKR & Co as They Move Higher on 1.7x Above-Average Volume (KKR)

Published on Tue, 01/15/2013 - 14:10
By Peter Chu

Shares of KKR & Co are trading today in above average volume, with the share price rising 2.3% to $16.65. About 3.1 million shares have been traded today, as compared to the 30-day average volume of 1.8 million shares. Unusually high volume can signify a potential turning point or validate a breakout.

KKR & Co (NYSE:KKR) has potential upside of 8.3% based on a current price of $16.65 and analysts' consensus price target of $18.02. KKR & Co shares have support at the 50-day moving average (MA) of $14.56 and additional support at the 200-day MA of $13.96.

KKR & Co. L.P. is a global alternative asset manager. The Company operates private equity funds that take either controlling or strategic minority ownership positions for long-term appreciation, invests in leveraged loans, high-yield bonds and less liquid credit products, and, on behalf of portfolio companies, arranges equity and debt financing and offers capital market advice.

In the past 52 weeks, shares of KKR & Co have traded between a low of $11.03 and a high of $17.06 and are now at $16.65, which is 51% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.5% while the 200-day MA has risen 0.2%.

By Peter Chu
pchu@fnno.com