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Legg Mason Inc (LM) Breaks Through Support at $30.62

By Nick Russo

Shares of Legg Mason Inc (NYSE:LM) have bearishly opened below the pivot of $30.72 today and have reached the first support level of $30.62. Should the shares continue to fall, the support pivots of $30.42 and $30.12 will be of interest.

Legg Mason Inc share prices have moved between a 52-week high of $42.24 and a 52-week low of $23.25 and are now trading 31% above that low price at $30.50 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 0.7%.

Potential upside of 46.4% exists for Legg Mason Inc, based on a current level of $30.50 and analysts' average consensus price target of $44.67. The stock should find resistance at its 200-day moving average (MA) of $31.35, as well as support at its 50-day MA of $27.78.

SmarTrend recommended that subscribers consider buying shares of Legg Mason Inc on January 4th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $26.51. Since that recommendation, shares of Legg Mason Inc have risen 14.2%. We continue to monitor LM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: pivot alerts legg mason inc

Ticker(s): LM