EDU Breakout on Huge Volume!
Stock of the Day - Update
New Oriental Education & Technology Group Inc.
Wednesday’s Closing Price: EDU - $40.80
Monday’s Closing Price: EDU - $36.93
Up 10.4% since writing the case study with a breakout today on volume 254% larger than the average. It traded more than 900k shares which crushed the average of 300k+.
As I said yesterday (Institutions are pouring in):
I like when I see $227 million worth of shares purchased and 93 new institutional holders versus only $770 thousand worth of shares sold. This shows me major support and interest by the so called “smart-money”. The company sounds interesting and looks to have an excellent market (a description is below).
Held by Institutions: 13.10%
Money Market: 45 (42 new positions)
Mutual Fund: 51 (50 new positions)
Other: 1 (1 new position)Shares Bought last Period: 6,313,271
Shares Sold last Period: 22,600
Value of Shares Bought: $227,073,203
Value of Shares Sold: $770,637
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