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Stock Investors Bid Up Shares of American Equity Investment, Up 3.3%

Published on Thu, 02/21/2013 - 13:14
By Robert Cotter

American Equity Investment (NYSE:AEL) is one of today's notable stocks on the rise, up 3.3% to $13.91. The S&P is trading lower by 0.9% to 1,500 and the Dow is trading 0.5% lower to 13,852.

American Equity Investment Life Holding Company develops, markets, issues, and administers annuities and life insurance products through its subsidiaries. The Company is a full-service underwriter of an array of annuity and insurance products, and is licensed to sell its products throughout the United States.

Potential upside of 14.1% exists for American Equity Investment, based on a current level of $13.91 and analysts' average consensus price target of $15.88. The stock should find initial support at its 50-day moving average (MA) of $12.91 and further support at its 200-day MA of $11.68.

In the past 52 weeks, shares of American Equity Investment have traded between a low of $10.00 and a high of $13.97 and are now at $13.91, which is 39% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has remained constant.

By Robert Cotter
rcotter@fnno.com