American Axle & Manufacturing Crosses Above its 10-day MA (AXL)

Published on Thu, 02/12/2015 - 13:02
By Peter Chu in Moving average crossovers, AXL, american axle & manufacturing, moving crosses, nyse:axl

American Axle & Manufacturing (NYSE:AXL) crossed over its 10-day moving average of $24.75 on a volume of 392K 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.

In the past 52 weeks, shares of American Axle & Manufacturing have traded between a low of $16.37 and a high of $25.73 and are now at $24.91, which is 52% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 0.9%.

American Axle & Manufacturing (NYSE:AXL) defies analysts with a current price ($24.91) 2.1% above its average consensus price target of $24.38. The stock should find initial support at its 50-day moving average (MA) of $23.10 and further support at its 200-day MA of $19.66.

By Peter Chu
pchu@fnno.com

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