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Waddell & Reed Financial: New 52-Week Low Set Today (WDR)

By David Diaz

Waddell & Reed Financial (NYSE:WDR) traded today at a new 52-week low of $18.43. This new low was reached on below average trading volume as 108,000 shares traded hands, while the average 30-day volume is approximately 1.6 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.

There is potential upside of 107.2% for shares of Waddell & Reed Financial based on a current price of $18.47 and an average consensus analyst price target of $38.27. The stock should find initial resistance at its 50-day moving average (MA) of $23.19 and further resistance at its 200-day MA of $31.17.

In the past 52 weeks, Waddell & Reed Financial share prices have been bracketed by a current low of $18.43 and a high of $50.22 and are now at $18.47. Over the last five market days, the 200-day moving average (MA) has gone down 1.6% while the 50-day MA has declined 1%.

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 16.0%. 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