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Shares of Amtrust Financial Services Rise Above Previous 52-Week High

By David Diaz

Amtrust Financial Services (NASDAQ:AFSI) traded today at a new 52-week high of $62.99. This new high was reached on below average trading volume as 106,000 shares traded hands, while the average 30-day volume is approximately 359,000 shares.

Potential upside of 8.0% exists for Amtrust Financial Services, based on a current level of $62.77 and analysts' average consensus price target of $67.80. Amtrust Financial Services shares have support at the 50-day moving average (MA) of $59.99 and additional support at the 200-day MA of $53.12.

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.

In the past 52 weeks, Amtrust Financial Services share prices have been bracketed by a low of $38.25 and a high of $62.99 and are now at $62.77, 64% above that low price. The 200-day and 50-day moving averages have moved 0.66% higher and 0.51% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Amtrust Financial Services on February 9th, 2015 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $54.60. Since that recommendation, shares of Amtrust Financial Services have risen 14.2%. 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