Investing Focus: Traders Keen on Shares of Duke Realty Corporation (DRE), New Gold Inc. (NGD)

The shares of Duke Realty Corporation (NYSE:DRE) dropped by -0.94% or -$0.29 from its last recorded high of $31 which it attained on March 13 to close at $30.71 per share. Over the past 52 weeks, the shares of Duke Realty Corporation has been trading as low as $24.67 before witnessing a massive surge by 24.48% or $6.04. This price movement has led to the DRE stock receiving more attention and has become one to watch out for. It dipped by -0.13% on Thursday and this got the market worried. The stock’s beta now stands at 0.74 and when compared to its 200-day moving average and its 50-day moving average, DRE price stands 8.11% above and 6.37% above respectively. Its average daily volatility for this week is 1.17% which is less than the 1.17% recorded over the past month.

Duke Realty Corporation (DRE) rose 3.61% this week, a trend that has led to both investors and traders taking note of the stock. Over the past one year, the equity price has embarked on a rally that has seen it rise 19.96% and is now up by 18.57% since start of this year. A look at its monthly performance shows that the stock has recorded a 3.12% gain over the past 30 days. Its equity price climbed by 7.98% over the past three months which led to its overall six-month increase to stand at 7.19%.

Experts from research firms are bullish about the near-term performance of Duke Realty Corporation with most of them predicting a $31.43 price target on a short-term (12 months) basis. The average price target by the analysts will see a 2.34% rise in the stock and would lead to DRE’s market cap to surge to $11.27B. The stock has been rated an average 1.9, which roughly stands towards the bullish end of the spectrum. Reuters looked into the 15 analysts that track Duke Realty Corporation (NYSE:DRE) and find out that 4 of them rated it as a Hold. 11 of the 11 analysts rated it as a Buy or a Strong Buy while 0 advised investors to desist from buying the stock or sell it if they already possess it.

A look at DRE technical analysis shows that its 14-day Relative Strength Index (RSI) is in a overbought zone after reaching 72.39 point. Its trading volume has lost -1105053 shares compared to readings over the past three months as it recently exchanged 1234947 shares. This means there is reduced activity from short-term traders as per session, its average trading volume is 2340000 shares, and this is 0.53 times the normal volume.

The price of New Gold Inc. (NYSE:NGD) currently stands at $0.86 after it went down by $-0.02 or -2.81% and has found a strong support at $0.84 a share. If the NGD price drops below that critical support, then it would lead to a bearish trend. In the short-term, a dip below the $0.83 mark would also be bad for the stock as it means that the stock would plunge by 3.49% from its current position. However, if the stock price is able to trade above the resistance point around $0.87, then it could likely surge higher to try and break the upward resistance which stands at $0.88 a share. Its average daily volatility over the past one month stands at 6.04%. The stock has plunged by 2.33% from its 52-weeks high of $0.84 which it reached on Feb. 04, 2018. In general, it is 19.77% above its 52-weeks lowest point which stands at $0.69 and this setback was observed on Oct. 24, 2018.

Analysts have predicted a price target for New Gold Inc. (NGD) for 1 year and it stands at an average $0.96/share. This means that it would likely increase by 11.63% from its current position. The current price of the stock has been moving between $0.84 and $0.87. Some brokerage firms have a lower target for the stock than the average, with one of them setting a price target as low as $0.5. On the other hand, one analyst is super bullish about the price, setting a target as high as $1.5.

The NGD stock Stochastic Oscillator (%D) is at 43.21%, which means that it is currently neutral. The shares P/S ratio stands at 0.78 which compares to the 1.22 recorded by the industry or the 2.68 by the wider sector. The stock currently has an estimated price-earnings (P/E) multiple of 0, which is lower than the 0 multiple of 12-month price-earnings (P/E). The company’s earnings have gone down, with a quarterly decrease rate of -19.4% over the past five years.

Analysts view New Gold Inc. (NYSE:NGD) as a Hold, with 2.7 consensus rating. Reuters surveyed 14 analysts that follow NGD and found that 9 of those analysts rated the stock as a Hold. The remaining 5 were divided, with 1 analyst rating it as a Buy or a Strong Buy while 4 analysts advised investors to desist from buying New Gold Inc. (NGD) shares or sell it if they already own it.