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Recent 52-Week Low Surpassed in Shares of Legg Mason Inc (LM)

By David Diaz

Legg Mason Inc (NYSE:LM) traded at a new 52-week low today of $33.61. This new low was reached on below average trading volume as 278,000 shares traded hands, while the average 30-day volume is approximately 910,000 shares.

Potential upside of 32.6% exists for Legg Mason Inc, based on a current level of $33.69 and analysts' average consensus price target of $44.67. Legg Mason Inc shares should first meet resistance at the 50-day moving average (MA) of $37.06 and find additional resistance at the 200-day MA of $39.28.

Legg Mason, Inc. is a global asset management company. The Company, through its subsidiaries, provides investment management and related services to institutional and individual clients, company-sponsored mutual funds and other pooled investment vehicles.

In the past 52 weeks, shares of Legg Mason Inc have traded between the current low of $33.61 and a high of $47.13 and are now at $33.69. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.8%.

SmarTrend recommended that its subscribers protect gains by selling shares of Legg Mason Inc on April 13th, 2018 by issuing a Downtrend alert when the shares were trading at $38.15. Since that call, shares of Legg Mason Inc have fallen 10.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows legg mason inc

Ticker(s): LM