Brookfield Asset Management Crosses Below its 10-day MA (BAM)

Published on Tue, 03/03/2015 - 12:29
By Peter Chu in Moving average crossovers, BAM, brookfield asset management, moving crosses, nyse:bam

Brookfield Asset Management (NYSE:BAM) shares have crossed bearishly below their 10-day moving average of $54.66 on a volume of 201K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, shares of Brookfield Asset Management have traded between a low of $38.72 and a high of $55.39 and are now at $54.40, which is 40% above that low price. The 200-day and 50-day moving averages have moved 0.36% higher and 0.83% higher over the past week, respectively.

Brookfield Asset Management Inc is an asset management company focused on the real estate and power generation sectors. The Company owns interests in office properties in North America, and in London in the United Kingdom. Brookfield Asset Management also owns power generating plants.

Potential upside of 6.4% exists for Brookfield Asset Management, based on a current level of $54.40 and analysts' average consensus price target of $57.86. The stock should find initial support at its 50-day moving average (MA) of $51.88 and further support at its 200-day MA of $47.54.

By Peter Chu
pchu@fnno.com

Latest News from FNNO

Watch for Continued Losses in Shares of ...

Transition Therapeutics (NASDAQ:TTHI) traded at a new 52-week low today of $2.02. This ...

Watch for Continued Losses in Shares of ...

Shares of TiVo (NASDAQ:TIVO) traded at a new 52-week low today of $10.08. So far today ...

Watch for Continued Losses in Shares of ...

Shares of Teekay LNG Partners (NYSE:TGP) traded at a new 52-week low today of $31.87. ...

Shares of Textainer Group Holdings Fall ...

Textainer Group Holdings (NYSE:TGH) traded today at a new 52-week low of $25.88. So fa ...

Shares of TFS Financial Have Risen Above...

TFS Financial (NASDAQ:TFSL) traded today at a new 52-week high of $17.16. So far today ...

Shares of Taubman Centers Have Fallen Be...

Shares of Taubman Centers (NYSE:TCO) traded today at $69.04, breaking its 52-week low. ...

Shares of Medallion Financial Fall Below...

Medallion Financial (NASDAQ:TAXI) traded today at a new 52-week low of $8.46. So far t ...

TransAlta: The Losing Streak Continues (...

Shares of TransAlta (NYSE:TAC) traded at a new 52-week low today of $7.71. This new lo ...