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SmarTrend Watching for Potential Rebound in Shares of Amer Axle & Mfg After 6.21% Loss

By James Quinn

Amer Axle & Mfg (NYSE:AXL) traded in a range yesterday that spanned from a low of $9.01 to a high of $10.40. Yesterday, the shares fell 6.2%, which took the trading range below the 3-day low of $9.28 on volume of 1.1 million 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 $5.86 and a high of $17.20 and are now at $9.59, which is 64% above that low price. Over the past week, the 200-day moving average (MA) has gone down 1.1% while the 50-day MA has remained constant.

SmarTrend is tracking the current trend status for Amer Axle & Mfg and will alert subscribers who have AXL in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders amer axle & mfg

Ticker(s): AXL