Before the Bell Scans of LKQ Corp., American Axle & Manufacturing, Meritor, and Tenneco
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
http://www.stockcall.com/registration
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
http://www.StockCall.com/LKQ032113.pdf
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
http://www.StockCall.com/AXL032113.pdf
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
http://www.StockCall.com/MTOR032113.pdf
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
http://www.StockCall.com/TEN032113.pdf
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