TMCnet News
Downgrade Alert for Ameriprise Financial (AMP)Jan 08, 2013 (SmarTrend(R) Upgrades/Downgrades via COMTEX) -- Ameriprise Financial (NYSE:AMP) was downgraded from Outperform to Neutral at Credit Suisse today. The stock closed yesterday at $65.25 on volume of 1.1 million shares, below average daily volume of 1.3 million. Ameriprise Financial, Inc. is a financial planning and services firm. The Company provides financial planning, products and services that are designed to be utilized as solutions for its clients' cash and liquidity, asset accumulation, income, protection, and estate and wealth transfer needs. Ameriprise Financial has overhead space with shares priced $65.25, or 4.8% below the average consensus analyst price target of $68.56. The stock should discover initial support at its 50-day moving average (MA) of $60.90 and subsequent support at its 200-day MA of $55.10. Ameriprise Financial share prices have moved between a 52-week high of $66.03 and a 52-week low of $45.17 and closed yesterday at 44% above that low price at $65.25 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.7%. SmarTrend recommended that subscribers consider buying shares of Ameriprise Financial on June 19th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $50.31. Since that recommendation, shares of Ameriprise Financial have risen 29.7%. We continue to monitor AMP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup |