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Artisan Partners Asset Management Inc. (APAM) - free report >>
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Artisan Partners Asset Management Inc. (APAM) - free report >>
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Artisan Partners Asset Management (APAM) Crossed Above the 200-Day Moving Average: What That Means for Investors
From a technical perspective, Artisan Partners Asset Management (APAM - Free Report) is looking like an interesting pick, as it just reached a key level of support. APAM recently overtook the 200-day moving average, and this suggests a long-term bullish trend.
The 200-day simple moving average is a useful tool for traders and analysts, establishing market trends for stocks, commodities, indexes, and other financial instruments over the long term. The marker moves higher or lower along with longer-term price moves, and serves as a support or resistance level.
Over the past four weeks, APAM has gained 7%. The company is currently ranked a Zacks Rank #2 (Buy), another strong indication the stock could move even higher.
Looking at APAM's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 1 higher compared to none lower for the current fiscal year, and the consensus estimate has moved up as well.
With a winning combination of earnings estimate revisions and hitting a key technical level, investors should keep their eye on APAM for more gains in the near future.