Northern Trust (NTRS), through its subsidiaries, provides asset servicing, fund administration, asset management, fiduciary, and banking solutions worldwide. This stock closed up 3.3% at $62.61 in Wednesday's trading session.
Wednesday's Volume: 4.2 million
Three-Month Average Volume: 1.14 million
Volume % Change: 263%
From a technical perspective, NTRS spiked notably higher here right above some near-term support at $60.26 with above-average volume. This move pushed shares of NTRS into breakout and new 52-week-high territory, after the stock took out some near-term overhead resistance at $62.38. Market players should now look for a continuation move higher in the short-term if NTRS manages to take out Wednesday's high of $63 with strong volume.
Traders should now look for long-biased trades in NTRS as long as it's trending above some near-term support at $60.26 or above its 50-day at $59.30 and then once it sustains a move or close above Wednesday's high of $63 with volume that this near or above 1.14 million shares. If we get that move soon, then NTRS will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that move are $68 to $70.