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Recent 52-Week High Exceeded in Shares of Assured Guaranty (AGO)

By James Quinn

Assured Guaranty (NYSE:AGO) traded today at a new 52-week high of $29.79. So far today approximately 98,000 shares have been exchanged, as compared to an average 30-day volume of 854,000 shares.

Assured Guaranty has overhead space with shares priced $29.79, or 15.4% below the average consensus analyst 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 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.

Assured Guaranty share prices have moved between a 52-week high of $29.79 and a 52-week low of $21.79 and are now trading 37% above that low price at $29.79 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.6%.

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 13.2%. 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

Ticker(s): AGO