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

Published on Tue, 03/31/2015 - 14:23
By Mallory Stone in 52 Week high-lows, AXL, 52 week high/lows, american axle & manufacturing, nyse:axl

American Axle & Manufacturing (NYSE:AXL) traded at a new 52-week high today of $26.16. So far today approximately 400,000 shares have been exchanged, as compared to an average 30-day volume of 992,000 shares.

There is potential upside of 1.7% for shares of American Axle & Manufacturing based on a current price of $25.94 and an average consensus analyst price target of $26.38. The stock should find initial support at its 50-day moving average (MA) of $24.90 and further support at its 200-day MA of $20.75.

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, American Axle & Manufacturing share prices have been bracketed by a low of $16.37 and a high of $26.16 and are now at $25.94, 58% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 0.5%.

By Mallory Stone
mstone@fnno.com

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