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Watch for Continued Losses in Shares of Legg Mason Inc (LM)

By James Quinn

Shares of Legg Mason Inc (NYSE:LM) traded today at $29.91, breaking its 52-week low. Approximately 73,000 shares have changed hands today, as compared to an average 30-day volume of 746,000 shares.

Potential upside of 48.9% exists for Legg Mason Inc, based on a current level of $30.00 and analysts' average consensus price target of $44.67. The stock should run into initial resistance at its 50-day moving average (MA) of $32.56 and subsequent resistance at its 200-day MA of $37.94.

In the past 52 weeks, Legg Mason Inc share prices have been bracketed by a current low of $29.91 and a high of $47.13 and are now at $30.00. The 200-day and 50-day moving averages have moved 0.33% lower and 0.8% lower over the past week, respectively.

Legg Mason, Inc. is a global asset management company. The Company, through its subsidiaries, provides investment management and related services to institutional and individual clients, company-sponsored mutual funds and other pooled investment vehicles.

SmarTrend recommended that its subscribers protect gains by selling shares of Legg Mason Inc on April 13th, 2018 by issuing a Downtrend alert when the shares were trading at $38.15. Since that call, shares of Legg Mason Inc have fallen 21.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows legg mason inc

Ticker(s): LM