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Downgrade Alert for TD Ameritrade Holding (AMTD)

By Shiri Gupta

TD Ameritrade Holding (NASDAQ:AMTD) was downgraded from Buy to Neutral at BofA/Merrill today. The stock closed yesterday at $27.22 on volume of 4.6 million shares, above average daily volume of 3.0 million.

TD Ameritrade Holding Corporation provides online brokerage services. The Company, through its private client and institutional client divisions, provides tiered levels of brokerage products and services tailored to meet the varying investing, trading, and execution needs of self-directed individual investors, financial institutions, and corporations.

Over the past year, TD Ameritrade Holding has traded in a range of $24.88 to $39.05 and closed yesterday at $27.22, 9% above that low. The 200-day and 50-day moving averages have moved 0.55% lower and 0.35% higher over the past week, respectively.

There is potential upside of 38.0% for shares of TD Ameritrade Holding based on a current price of $27.22 and an average consensus analyst price target of $37.56. TD Ameritrade Holding shares should first meet resistance at the 50-day moving average (MA) of $30.88 and find additional resistance at the 200-day MA of $32.57.

SmarTrend recommended that its subscribers protect gains by selling shares of TD Ameritrade Holding on June 10th, 2016 by issuing a Downtrend alert when the shares were trading at $30.15. Since that call, shares of TD Ameritrade Holding have fallen 11.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: analyst upgrades/downgrades td ameritrade holding

Ticker(s): AMTD