Assured Guaranty Looks to Continue to Trade Above its Annual-High Share Price Today
Shares of Assured Guaranty (NYSE:AGO) traded today at $30.14, breaking its 52-week high. This new high was reached on below average trading volume as 50,000 shares traded hands, while the average 30-day volume is approximately 854,000 shares.
Assured Guaranty (NYSE:AGO) has potential upside of 16.9% based on a current price of $30.12 and analysts' consensus price target of $35.20. The stock should discover initial support at its 200-day moving average (MA) of $25.59 and subsequent support at its 50-day MA of $25.47.
Assured Guaranty share prices have moved between a 52-week high of $30.14 and a 52-week low of $21.79 and are now trading 38% above that low price at $30.12 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.6%.
Assured Guaranty Ltd. provides financial guaranty insurance and reinsurance, as well as mortgage guaranty coverage. The Company's products include guaranties for municipal finance, structured finance, and corporate bonds.
SmarTrend recommended that subscribers consider buying shares of Assured Guaranty on July 12th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $26.21. Since that recommendation, shares of Assured Guaranty have risen 14.3%. We continue to monitor AGO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: 52 week high/lows assured guaranty