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Look for Shares of Affil Managers to Potentially Pullback after Yesterday's 1.66% Rise

By James Quinn

Affil Managers (NYSE:AMG) traded in a range yesterday that spanned from a low of $85.15 to a high of $86.64. Yesterday, the shares gained 1.7%, which took the trading range above the 3-day high of $85.39 on volume of 76,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Affil Managers has traded in a range of $71.08 to $115.75 and is now at $86.49, 22% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 0.3%.

SmarTrend recommended that subscribers consider buying shares of Affil Managers on October 28th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $79.52. Since that recommendation, shares of Affil Managers have risen 6.5%. We continue to monitor AMG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders affil managers

Ticker(s): AMG