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Downgrade Alert for Genworth Financial (GNW)

By Shiri Gupta

Genworth Financial (NYSE:GNW) was downgraded from Buy to Neutral at Compass Point today. The stock closed yesterday at $4.94 on volume of 9.3 million shares, above average daily volume of 8.0 million.

Genworth Financial has overhead space with shares priced $4.94, or 23.6% below the average consensus analyst price target of $6.47. The stock should discover initial support at its 200-day moving average (MA) of $3.98 and subsequent support at its 50-day MA of $2.84.

Genworth Financial Inc. offers insurance, wealth management, investment and financial solutions The Company offers products that include life insurance products, long-term care insurance, and mortgage guarantee insurance coverage on residential mortgage loans. Genworth is active in the United States, Canada, Australia, New Zealand, Mexico and multiple European countries.

In the past 52 weeks, shares of Genworth Financial have traded between a low of $1.57 and a high of $9.19 and closed yesterday at $4.94, which is 215% above that low price. Over the past week, the 200-day moving average (MA) has gone down 1.8% while the 50-day MA has advanced 6.1%.

SmarTrend recommended that subscribers consider buying shares of Genworth Financial on August 3rd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $3.53. Since that recommendation, shares of Genworth Financial have risen 40.7%. We continue to monitor GNW for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades genworth financial

Ticker(s): GNW