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Artisan Partners Asset Management (
APAM) is an independent investment management firm that provides a range equity investment strategies spanning different market capitalization segments and investing styles in both U.S. and non-U.S. markets. This stock closed up 3.3% to $54.75 in Monday's trading session.
>>5 Stocks Poised for Breakouts
From a technical perspective, APAM spiked higher here right above its 50-day moving average of $51.32 with strong upside volume. This stock has been uptrending strong for the last two months, with shares soaring higher from its low of $46.02 to its recent high of $55.99. During that uptrend, shares of APAM have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of APAM within range of triggering a near-term breakout trade. That trade will hit if APAM manages to take out Monday's high of $55.80 and then its all-time high at $56.07 with high volume.
Traders should now look for long-biased trades in APAM as long as it's trending above Monday's low of $52.88 or its 50-day at $51.32 and then once it sustains a move or close above those breakout levels with volume that hits near or above 58,920 shares. If that breakout hits soon, then APAM will set up to enter new all-tim- high territory above, which is bullish technical price action. Some possible upside targets off that breakout are $60 to $65.
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