East West Bancorp Crosses Above its 10-day MA (EWBC)
Today, shares of East West Bancorp (NASDAQ:EWBC) have crossed bullishly above their 10-day moving average of $38.84 on a volume of 111K shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.
In the past 52 weeks, shares of East West Bancorp have traded between a low of $27.25 and a high of $46.50 and are now at $38.95, which is 43% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.8% while the 200-day MA has slid 0.4%.
SmarTrend recommended that subscribers consider buying shares of East West Bancorp on July 14th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $35.88. Since that recommendation, shares of East West Bancorp have risen 7.4%. We continue to monitor EWBC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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