Before the Bell Scans of LKQ Corp., American Axle & Manufacturing, Meritor,
LONDON, March 21, 2013
LONDON, March 21, 2013 /PRNewswire/ --
Auto sales in U.S. picked up last year, driven by significant pent-up demand
and cheap financing. The trend is expected to continue in 2013. Meanwhile,
auto sales in China, the world's second largest economy and first largest car
market, are also expected to rise sharply in 2013. U.S. and China will be the
key growth drivers for the auto industry. Given the robust demand in the U.S.
and China, automakers are expected to boost vehicle production this year,
which should benefit auto parts manufacturers such as LKQ Corporation (NASDAQ:
LKQ), American Axle & Manufacturing Holdings Inc. (NYSE: AXL), Meritor Inc.
(NYSE: MTOR) and Tenneco Inc. (NYSE: TEN). On Wednesday, shares of all four
companies edged higher, tracking gains in the broad market. StockCall has
taken an interest in these companies and you can now sign up to download the
free technical research on LKQ, AXL, MTOR, and TEN at
Shares of LKQ Corporation edged higher in Wednesday's trading session, as the
broad market rallied. The stock ended the day 0.93% higher at $21.15 on volume
of 1.72 million. LKQ's shares hit an intra-day high of $21.18 yesterday.
Year-to-date, the stock has gained just 0.24% even as the S&P 500 posted gains
of over 9.20%. The auto parts maker's shares fell sharply earlier this month
after failing to break through $23 resistance level. The stock has rebounded
after finding support at around $20. The stock's MACD has just crossed above
the signal line, which is a bullish signal. Sign up today to read the free
research report on LKQ at
Shares of American Axle & Manufacturing Holdings Inc. have had an excellent
run so far in 2013, gaining 20.80%. On Wednesday, the stock hit a 52-week high
of $13.71 before finishing the day 2.34% higher at $13.53. The company's
shares have recently broken through $13.25 resistance level, which is a
bullish signal. The upbeat trend is further confirmed by the stock's MACD
chart. The stock's MACD has just crossed above the signal line. American Axle
& Manufacturing's shares are currently trading at a P/E multiple of 2.81.
Register to download the free technical analysis on AXL at
Shares of Meritor Inc. rose sharply in trading yesterday. The stock closed
1.63% higher at $4.98 after touching an intra-day high of $5.03. The company's
shares have had a decent run in 2013 so far, gaining more than 5.20%. The
stock has recently broken through $4.90 resistance level, which is a bullish
signal. The stock is also trading above its 50-day and 200-day moving
averages, which further confirms the positive trend. Meritor's MACD is
currently trading above the signal line and the zero-line. Free report on MTOR
can be accessed by registering at
Shares of Tenneco Inc. gained 1.35% to finish at $38.94 on Wednesday. The
stock touched an intra-day high of $39.02. Tenneco's shares are currently
trading close to their 52-week high of $39.28. Its shares have gained nearly
11% this year, outperforming the S&P 500. The stock has seen a series of highs
over the past few days, which is a bullish signal. The stock has also broken
through $38 resistance level, which further confirms the bullish trend.
Register with StockCall and download the research on TEN for free at
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