Recent 52-Week High Exceeded in Shares of Northeast Utilities (NU)
Shares of Northeast Utilities (NYSE:NU) traded at a new 52-week high today of $53.20. This new high was reached on below average trading volume as 624,000 shares traded hands, while the average 30-day volume is approximately 1.8 million shares.
Northeast Utilities (NYSE:NU) defies analysts with a current price ($53.15) 2.7% above its average consensus price target of $51.73. The stock should discover initial support at its 50-day moving average (MA) of $49.66 and subsequent support at its 200-day MA of $46.40.
In the past 52 weeks, Northeast Utilities share prices have been bracketed by a low of $40.93 and a high of $53.20 and are now at $53.15, 30% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.9%.
Northeast Utilities is a public utility holding company. The Company, through its subsidiaries, provides retail electric service to customers in Connecticut, New Hampshire, and western Massachusetts. Northeast also distributes natural gas throughout Connecticut.
SmarTrend recommended that subscribers consider buying shares of Northeast Utilities on October 8th, 2014 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $46.25. Since that recommendation, shares of Northeast Utilities have risen 14.3%. We continue to monitor NU for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: 52 week high/lows northeast utilities