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American Axle & Manufacturing Shares Sinking Lower, Down 2.3%

Published on Thu, 02/21/2013 - 13:23
By Robert Cotter

American Axle & Manufacturing (NYSE:AXL) is a company whose shares are active, trading 2.3% lower to $12.03. The Dow is down 0.5% to 13,852 and the S&P is currently down 0.9% to 1,500.

Potential upside of 10.1% exists for American Axle & Manufacturing, based on a current level of $12.03 and analysts' average consensus price target of $13.25. The stock should discover initial support at its 50-day moving average (MA) of $11.45 and subsequent support at its 200-day MA of $10.76.

In the past 52 weeks, shares of American Axle & Manufacturing have traded between a low of $7.93 and a high of $12.95 and are now at $12.03, which is 52% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.8%.

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.

By Robert Cotter
rcotter@fnno.com

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