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

By David Diaz

Shares of Waddell & Reed Financial (NYSE:WDR) traded today at $19.44, breaking its 52-week low. So far today approximately 380,000 shares have been exchanged, as compared to an average 30-day volume of 1.9 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.

Potential upside of 95.7% exists for Waddell & Reed Financial, based on a current level of $19.56 and analysts' average consensus price target of $38.27. The stock should run into initial resistance at its 50-day moving average (MA) of $23.38 and subsequent resistance at its 200-day MA of $31.56.

Over the past year, Waddell & Reed Financialhas traded in a range of $19.44 to $50.22 and are now at $19.56. Over the last five market days, the 200-day moving average (MA) has gone down 1.2% while the 50-day MA has declined 0.7%.

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 10.0%. 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