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Lazard Ltd-Cl A: The Losing Streak Continues (LAZ)

By David Diaz

Shares of Lazard Ltd-Cl A (NYSE:LAZ) traded today at $43.20, breaking its 52-week low. This new low was reached on below average trading volume as 94,000 shares traded hands, while the average 30-day volume is approximately 671,000 shares.

Lazard Ltd provides asset management and financial advisory services. The Company offers advice on mergers and acquisitions, strategic matters, restructuring capital structure, capital raising and corporate finance, as well as asset management services to corporations, partnerships, institutions, governments and individuals. Lazard serves customers internationally.

In the past 52 weeks, shares of Lazard Ltd-Cl A have traded between the current low of $43.20 and a high of $60.00 and are now at $43.23. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.9%.

Potential upside of 53.2% exists for Lazard Ltd-Cl A, based on a current level of $43.23 and analysts' average consensus price target of $66.22. The stock should run into initial resistance at its 50-day moving average (MA) of $48.67 and subsequent resistance at its 200-day MA of $52.44.

SmarTrend is monitoring the recent change of momentum in Lazard Ltd-Cl A. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Lazard Ltd-Cl A in search of a potential trend change.

Keywords: 52 week high/lows lazard ltd-cl a

Ticker(s): LAZ