Dana Holdings Motoring Higher

Auto parts manufacturer and supplier, Dana Holding Corp (NYSE: DAN) is motoring higher today by over 5.50% after being added to the “Conviction Buy List” at Goldman Sachs. Their price target is $16, some 34% above current market price.

Dana Holdings is currently approaching its 52-week high of $12.50. I expect the stock to find some intermediate term resistance there given that it is a long-term resistance level and the stock looks to be overbought currently. If it can consolidate and move higher, however, then it could easily run to the $15 level in my opinion.