Legg Mason Inc (NYSE: LM)

Legg Mason Inc. is a publicly owned asset management holding company. The firm through its subsidiaries provides investment management and related services to institutional and individual clients, company-sponsored mutual funds and other pooled investment vehicles. Legg Mason Inc. was founded in 1899 and is based in Baltimore, Maryland.
Please take a look at the 1-year chart of LM (Legg Mason, Inc.) below with my added notations:

LM had a great run from its $30 low in June to its $49 peak in March. Two key levels that were created recently were $40 (blue) and $45 (black). Last week the first level of $45 broke and that should mean lower prices overall for the stock. The next stop on the way down should be the $40 level.

The Tale of the Tape: LM’s pullback didn’t hold $45, thus should be moving lower. A short trade could be made on a rally back up to $45, while a break back above $45 would be an opportunity to get long the stock. If the stock continues lower, a long trade at $40 might be considered.
Please share this article