Shares of Joy Global (JOY) Sees Large Outflow of Money

Joy Global (JOY) : The total money flow in Joy Global (JOY) was negative ($2.45 million), which signals selling by the traders on Thursdays session. They trimmed their holdings by selling the stock on downticks to the tune of $12.44 million. In comparison, the inflow of money into the stock on upticks was $9.99 million. The uptick to downtick ratio was 0.8. Similarly, the block trades show selling by large traders on strength. The value of stocks sold down on downtick was $2.87 million. The value of transactions on uptick was $0.21 million. The negative money flow of ($2.66 million) confirms the selling in Joy Global (JOY) on strength. The uptick to downtick ratio of block trades was 0.07. Joy Global (JOY) gained $0.08 at $20.62, a gain of 0.39% over the previous days close. However, the stock registered -4.93% in the week.


Joy Global (JOY) stock is expected to deviate a maximum of $4.4 from the average target price of $21.25 for the short term period. 8 Street Experts have initiated coverage on the stock with the most promising target being $26 and the most muted being $14. The stock has recorded a 20-day Moving Average of 2.94% and the 50-Day Moving Average is 6.85%.

Joy Global (NYSE:JOY): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $20.73 and $20.21 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $21.45. The buying momentum continued till the end and the stock did not give up its gains. It closed at $20.80, notching a gain of 1.27% for the day. The total traded volume was 3,499,124 . The stock had closed at $20.54 on the previous day.

Joy Global Inc. is a manufacturer and servicer of high productivity mining equipment for the extraction of coal and other minerals and ores. The Company manufactures and market original equipment and aftermarket parts and services for both underground and surface mining and certain industrial applications. The Companys equipment is used in major mining regions throughout the world to mine coal, copper, iron ore, oil sands, gold and other minerals. The Company operates in two business segments: Underground Mining Machinery and Surface Mining Equipment. The Company is a manufacturer of underground mining machinery for the extraction of coal and other bedded minerals and offer service locations near major mining regions worldwide. The Company is a major producer of surface mining equipment for the extraction of ores and minerals and provides extensive operational support for many types of equipment used in surface mining.

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