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Fifth Third Bancorp Bearish Moving Average Crossover Alert (FITB)

By James Quinn

Today, shares of Fifth Third Bancorp (NASDAQ:FITB) have crossed bearishly below their 10-day moving average of $18.66 on a volume of 1.8 million shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, shares of Fifth Third Bancorp have traded between a low of $13.84 and a high of $21.93 and are now at $18.41, which is 33% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 1.2%.

SmarTrend recommended that subscribers consider buying shares of Fifth Third Bancorp on March 1st, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $15.80. Since that recommendation, shares of Fifth Third Bancorp have risen 22.2%. We continue to monitor FITB for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses fifth third bancorp

Ticker(s): FITB