ABB Ltd (NYSE:ABB) has tumbled 0.63% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 1.03% in the last four weeks. In the past week, the company has outperformed the S&P 500 by 0.56% and the outperformance has advanced to 0.11% for the last 4 weeks period.
ABB Ltd (NYSE:ABB): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $20.50 and $20.39 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $20.60. The buying momentum continued till the end and the stock did not give up its gains. It closed at $20.55, notching a gain of 1.18% for the day. The total traded volume was 2,583,332 . The stock had closed at $20.31 on the previous day.
The company shares have dropped -8.38% from its 1 Year high price. On Jun 22, 2015, the shares registered one year high at $22.62 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $20.69 and the 200 Day Moving Average price is recorded at $18.84.
Many analysts have stated their opinion on the company shares. Equity analysts at the Brokerage firm JP Morgan upgrades its rating on ABB Ltd (NYSE:ABB). The rating major has initiated the coverage with neutral rating on the shares. Earlier, the shares were rated a Underweight by the brokerage firm. The rating by the firm was issued on April 20, 2016. Institutional Investors own 3.43% of ABB Ltd shares.
ABB Ltd (ABB) is engaged in power and automation technologies. The Company manages its business -based on five divisions: Discrete Automation and Motion, Low Voltage Products, Process Automation, Power Products and Power Systems. The Discrete Automation and Motion division provides low-voltage and medium-voltage drive products and systems for industrial, commercial and residential applications. The Process Automation division provides engineered solutions, products and services for process control, safety, instrumentation, plant electrification and energy management. The Power Products division offers a portfolio of products and services to facilitate power generation, transmission and distribution. The Power Systems division offers solutions for power and water plants, grid integration and automation, as well as a range of systems and services for the generation, transmission and distribution of electricity. The Company operates in approximately 100 countries.