• user warning: Table './fnndrupaldev/term_node' is marked as crashed and last (automatic?) repair failed query: SELECT t.* FROM term_node r INNER JOIN term_data t ON r.tid = t.tid INNER JOIN vocabulary v ON t.vid = v.vid WHERE r.vid = 433438 ORDER BY v.weight, t.weight, t.name in /var/www/www.fnno.com/htdocs/modules/taxonomy/taxonomy.module on line 617.
  • user warning: Table './fnndrupaldev/sessions' is marked as crashed and last (automatic?) repair failed query: SELECT COUNT(sid) AS count FROM sessions WHERE timestamp >= 1418915389 AND uid = 0 in /var/www/www.fnno.com/htdocs/includes/session.inc on line 111.
  • user warning: Table './fnndrupaldev/sessions' is marked as crashed and last (automatic?) repair failed query: SELECT DISTINCT u.uid, u.name, s.timestamp FROM users u INNER JOIN sessions s ON u.uid = s.uid WHERE s.timestamp >= 1418915389 AND s.uid > 0 ORDER BY s.timestamp DESC in /var/www/www.fnno.com/htdocs/modules/user/user.module on line 765.

Bearish Moving Average Cross by Legg Mason (LM)

Published on Thu, 01/31/2013 - 12:15
By Mallory Stone

Legg Mason (NYSE:LM) shares have crossed bearishly below their 10-day moving average of $27.60 on a volume of 302K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, Legg Mason share prices have been bracketed by a low of $22.36 and a high of $29.49 and are now at $27.50, 23% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has remained constant.

Based on a current price of $27.50, Legg Mason is currently 1.6% above its average consensus analyst price target of $27.07. The stock should find initial support at its 50-day moving average (MA) of $26.22 and further support at its 200-day MA of $25.47.

Legg Mason, Inc. is a global asset management company. The Company, through its subsidiaries, provides investment management and related services to institutional and individual clients, company-sponsored mutual funds and other pooled investment vehicles.

By Mallory Stone
mstone@fnno.com

Latest News from FNNO

Analyst Rating Flashback: Macerich Up 0....

Deutsche Bank downgraded Macerich (NYSE:MAC) from Buy to Hold a week ago. Macerich sto ...

ProLogis In Retrospect: Shares Down 0.7%...

A week ago, Deutsche Bank upgraded ProLogis from Hold to Buy. The shares closed at $42 ...

Gol Linhas Aereas Inteligentes Down 15.0...

JP Morgan upgraded Gol Linhas Aereas Inteligentes (NYSE:GOL) from Neutral to Overweight ...

Analyst Rating In Review: Advisory Board...

A week ago, Stifel upgraded Advisory Board from Hold to Buy. Advisory Board stocks clo ...

United Therapeutics Gives Way to the Ana...

United Therapeutics was downgraded from Neutral to Underperform by Credit Suisse one we ...

Analyst Rating Flashback: Apartment Inve...

A week ago, Keybanc downgraded Apartment Investment & Management from Buy to Hold. Apa ...

Analyst Rating Flashback: Mid-America Ap...

Mid-America Apartment Communities was upgraded from Hold to Buy by Keybanc one week ago ...

Morgan Stanley's Rating Change Only Had ...

One week ago Eli Lilly (NYSE:LLY) was upgraded from Underweight to Overweight at Morgan ...