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Recent 52-Week Low Surpassed in Shares of America Movil (AMX)

By David Diaz

America Movil (NYSE:AMX) traded today at a new 52-week low of $11.76. This new low was reached on below average trading volume as 1.1 million shares traded hands, while the average 30-day volume is approximately 4.5 million shares.

America Movil has overhead space with shares priced $11.78, or 41.4% below the average consensus analyst price target of $20.10. The stock should run into initial resistance at its 50-day moving average (MA) of $14.90 and subsequent resistance at its 200-day MA of $15.87.

America Movil SAB de C.V. provides wireless communications services in all regions of Mexico. The Company also participates in telecommunications joint ventures in several other South American countries as well as in the United States.

Over the past year, America Movilhas traded in a range of $11.76 to $21.76 and are now at $11.78. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has slid 0.9%.

SmarTrend recommended that its subscribers protect gains by selling shares of America Movil on May 4th, 2016 by issuing a Downtrend alert when the shares were trading at $13.34. Since that call, shares of America Movil have fallen 9.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows america movil

Ticker(s): AMX