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Bullish Moving Average Cross by Affiliated Managers (AMG)

By Nick Russo

Today, shares of Affiliated Managers (NYSE:AMG) have crossed bullishly above their 10-day moving average of $136.85 on a volume of 171K 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.

In the past 52 weeks, shares of Affiliated Managers have traded between a low of $115.97 and a high of $229.12 and are now at $137.85, which is 19% above that low price. The 200-day and 50-day moving averages have moved 0.63% lower and 1.79% higher over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Affiliated Managers on May 3rd, 2016 by issuing a Downtrend alert when the shares were trading at $165.99. Since that call, shares of Affiliated Managers have fallen 19.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses affiliated managers

Ticker(s): AMG