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American Axle & Manufacturing Bullish Moving Average Crossover Alert (AXL)

Published on Wed, 03/27/2013 - 11:25
By Mallory Stone

Today, shares of American Axle & Manufacturing (NYSE:AXL) have advanced above their 10-day MA of $13.13 on a volume of 1.4 million shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

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.

American Axle & Manufacturing (NYSE:AXL) has potential upside of 4.1% based on a current price of $13.28 and analysts' consensus price target of $13.82. The stock should discover initial support at its 50-day moving average (MA) of $12.36 and subsequent support at its 200-day MA of $11.20.

American Axle & Manufacturing share prices have moved between a 52-week high of $13.71 and a 52-week low of $7.93 and are now trading 67% above that low price at $13.28 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has risen 0.6%.

By Mallory Stone