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Shares of investment manager Legg Mason are poised for a breakout.

Since LM reported very solid Q2 earnings:|yseop_template_4-594150&mod=mw_quote_news, Legg Mason has been consolidating in a narrow range. This bull pennant is about to give way to a fresh rally leg. A close above the November peak($39.40) could spark an upside breakout.

We are long LM in some managed accounts.