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Shares of Amtrust Financial Services Has Risen Above Previous 52-Week High

By David Diaz

Shares of Amtrust Financial Services (NASDAQ:AFSI) traded at a new 52-week high today of $41.89. Approximately 135,000 shares have changed hands today, as compared to an average 30-day volume of 496,000 shares.

Over the past year, Amtrust Financial Services has traded in a range of $23.75 to $41.89 and is now at $40.97, 73% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.6% while the 50-day MA has advanced 1.0%.

Amtrust Financial Services has overhead space with shares priced $40.97, or 5.5% below the average consensus analyst price target of $43.34. The stock should discover initial support at its 50-day moving average (MA) of $38.11 and subsequent support at its 200-day MA of $34.03.

AmTrust Financial Services, Inc. offers insurance coverage. The Company offers property/casualty, workers' compensation, special risk, and warranty insurance, and extended service plans. The Company operates in the United States and the European Union, and reinsures risk worldwide.

SmarTrend recommended that subscribers consider buying shares of Amtrust Financial Services on October 21st, 2013 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $39.27. Since that recommendation, shares of Amtrust Financial Services have risen 4.4%. We continue to monitor AFSI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows amtrust financial services

Ticker(s): AFSI