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Upgrade Alert for ING Groep (ING)

By Nick Russo

ING Groep (NYSE:ING) was upgraded from Underperform to Neutral at Macquarie today. The stock closed yesterday at $9.68 on volume of 3.8 million shares, above average daily volume of 2.8 million.

Over the past year, ING Groep has traded in a range of $9.26 to $17.44 and closed yesterday at $9.68, 5% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.8% while the 50-day MA has advanced 0.3%.

Potential upside of 95.9% exists for ING Groep, based on a current level of $9.68 and analysts' average consensus price target of $18.96. ING Groep shares should first meet resistance at the 50-day moving average (MA) of $12.28 and find additional resistance at the 200-day MA of $13.58.

ING Groep N.V. offers financial services to individuals, corporations, and other institutions. The Company offers corporate, investment, and private banking services, asset and portfolio management, treasury services, and insurance. ING Groep has offices throughout the world.

SmarTrend is monitoring the recent change of momentum in ING Groep. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of ING Groep in search of a potential trend change.

Keywords: analyst upgrades/downgrades ING Groep

Ticker(s): ING