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Shares of Waddell & Reed Financial Fall Below Previous 52-Week Low

By Nick Russo

Waddell & Reed Financial (NYSE:WDR) traded at a new 52-week low today of $20.06. This new low was reached on below average trading volume as 441,000 shares traded hands, while the average 30-day volume is approximately 1.8 million shares.

Waddell & Reed Financial, Inc., through its subsidiaries, serves as investment advisor and exclusive underwriter and distributor for a family of mutual funds. The Company's funds include the Waddell & Reed Advisors Funds, W&R Funds, Inc., Ivy Funds, and the W&R Target Funds, Inc.

In the past 52 weeks, shares of Waddell & Reed Financial have traded between the current low of $20.06 and a high of $51.23 and are now at $20.15. Over the last five market days, the 200-day moving average (MA) has gone down 1.5% while the 50-day MA has declined 0.3%.

Potential upside of 89.9% exists for Waddell & Reed Financial, based on a current level of $20.15 and analysts' average consensus price target of $38.27. The stock should find initial resistance at its 50-day moving average (MA) of $23.47 and further resistance at its 200-day MA of $31.81.

SmarTrend recommended that its subscribers protect gains by selling shares of Waddell & Reed Financial on March 29th, 2016 by issuing a Downtrend alert when the shares were trading at $22.50. Since that call, shares of Waddell & Reed Financial have fallen 7.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows waddell & reed financial

Ticker(s): WDR