American Axle & Manufacturing (NYSE:AXL) crossed over its 10-day moving average of $24.58 on a volume of 667K shares. This may provide short-term investors a chance 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 has overhead space with shares priced $24.77, or 6.1% below the average consensus analyst price target of $26.38. American Axle & Manufacturing shares should encounter resistance at the 50-day moving average (MA) of $25.12 and support at its 200-day MA of $21.32.
American Axle & Manufacturing share prices have moved between a 52-week high of $26.21 and a 52-week low of $16.37 and are now trading 51% above that low price at $24.77 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has remained constant.