GPN is within one standard deviation of its 200-day moving average
The shares of Global Payments Inc (NYSE:GPN) have been moving higher since mid December, up 13.7% since the start of the year. However, the equity appears to be running into some technical pressure on the charts, including its 200-day moving average, which has historically bearish implications.
According to data from Schaeffer's Senior Quantitative Analyst Rocky White, GPN has come within one standard deviation of the aforementioned trendline five times over the past three years. The stock was lower one month later 80% of the time, averaging a 9.5% loss. From its current perch of $112, this setback would place Global Payments stock just below $102.
An unwinding of optimism amongst analysts could provide headwinds as well. Of the 20 analysts in coverage, 15 carry a "buy" or better rating on GPN. Plus, the 12-month consensus price target of $142.93 is a 27% premium to current levels.