Meritor (MTOR) : Traders are bullish on Meritor (MTOR) as it has outperformed the S&P 500 by a wide margin of 0.18% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 2.89%, relative to the S&P 500. The stock has risen by 3.06% in the past week indicating that the buyers are active at lower levels, but the stock is down -0.36% in the past 4 weeks.
The stock has recorded a 20-day Moving Average of 2.66% and the 50-Day Moving Average is 8.44%.The 200 Day SMA reached 32.58%
Meritor (NYSE:MTOR): After opening at $10.68, the stock dipped to an intraday low of $10.6 on Friday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $11.19 and the buying power remained strong till the end. The stock closed at $11.13 for the day, a gain of 5.30% for the day session. The total traded volume was 890,147. The stocks close on the previous trading day was $11.13.
Meritor (MTOR) stock is expected to deviate a maximum of $2.22 from the average target price of $9.25 for the short term period. 4 Street Experts have initiated coverage on the stock with the most promising target being $12 and the most muted being $7.
Meritor, Inc. is engaged in the development, manufacture, sale, assembly, distribution, import and export of movement control systems for buses, trailers and trucks and their parts and components. It serves commercial truck, trailer, bus and coach and off-highway machinery manufacturers. The Companys segments include commercial truck and industrial, and aftermarket and trailer. Its commercial truck and industrial segment supplies drivetrain systems and components, including axles, drivelines, braking and suspension systems, primarily for medium- and heavy-duty trucks in North America, South America and Europe. This segment also supplies components for defense, construction, bus and coach, mining, fire and emergency applications, and Aftermarket and Trailer segment, which supplies new and remanufactured axles, brakes, suspensions, transmissions and components for all-makes aftermarket customers, and also supplies a variety of undercarriage products and systems for trailer applications.