• Return to Headlines

Amer Axle & Mfg Falls 3.12% on Heavy Volume: Watch For Potential Rebound

By Amy Schwartz

Amer Axle & Mfg (NYSE:AXL) traded in a range yesterday that spanned from a low of $13.99 to a high of $14.15. Yesterday, the shares fell 3.1%, which took the trading range below the 3-day low of $14.40 on volume of 624,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, shares of Amer Axle & Mfg have traded between a low of $10.13 and a high of $19.34 and are now at $13.99, which is 38% above that low price. The 200-day and 50-day moving averages have moved 0.16% lower and 1.61% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Amer Axle & Mfg on January 9th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $12.81. Since that recommendation, shares of Amer Axle & Mfg have risen 12.7%. We continue to monitor AXL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders amer axle & mfg

Ticker(s): AXL