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Watch for Continued Gains in Shares of Assured Guaranty (AGO)

By James Quinn

Assured Guaranty (NYSE:AGO) traded today at a new 52-week high of $45.23. Approximately 66,000 shares have changed hands today, as compared to an average 30-day volume of 854,000 shares.

Assured Guaranty Ltd. provides financial guaranty insurance and reinsurance coverage. The Company's products include guaranties for municipal finance, structured finance, and infrastructure finance.

There is potential upside of 2.9% for shares of Assured Guaranty based on a current price of $45.21 and an average consensus analyst price target of $46.50. The stock should find initial support at its 200-day moving average (MA) of $25.59 and further support at its 50-day MA of $25.47.

Assured Guaranty share prices have moved between a 52-week high of $45.23 and a 52-week low of $23.43 and are now trading 93% above that low price at $45.21 per share. The 200-day and 50-day moving averages have moved 0.10% higher and 0.57% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Assured Guaranty on April 7th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $38.42. Since that recommendation, shares of Assured Guaranty have risen 17.3%. We continue to monitor AGO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows assured guaranty

Ticker(s): AGO