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Watch for Continued Gains in Shares of American Axle & Manufacturing (AXL)

Published on Tue, 04/30/2013 - 14:13
By Mallory Stone

American Axle & Manufacturing (NYSE:AXL) traded at a new 52-week high today of $14.06. This new high was reached on approximately average trading volume as 1.9 million shares traded hands, while the average 30-day volume is approximately 1.6 million shares.

Potential upside of 2.7% exists for American Axle & Manufacturing, based on a current level of $13.45 and analysts' average consensus price target of $13.82. The stock should find initial support at its 50-day moving average (MA) of $12.87 and further support at its 200-day MA of $11.54.

American Axle & Manufacturing Holdings, Inc. designs, engineers, and manufactures driveline systems for light trucks and sport-utility vehicles. The Company produces axles, propeller shafts, chassis components, and forged products. American Axle also manufactures various driveline components for light trucks and sport utility vehicles manufactured in North America.

In the past 52 weeks, shares of American Axle & Manufacturing have traded between a low of $7.93 and a high of $14.06 and are now at $13.45, which is 70% above that low price. The 200-day and 50-day moving averages have moved 0.40% higher and 0.34% higher over the past week, respectively.

By Mallory Stone
mstone@fnno.com