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HDFC Bank: The Winning Streak Continues (HDB)

By Amy Schwartz

HDFC Bank (NYSE:HDB) traded at a new 52-week high today of $69.69. So far today approximately 70,000 shares have been exchanged, as compared to an average 30-day volume of 649,000 shares.

In the past 52 weeks, HDFC Bank share prices have been bracketed by a low of $51.11 and a high of $69.69 and are now at $69.45, 36% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.2%.

HDFC Bank Ltd. offers a wide range of services to the global corporate sector. The Bank provides corporate banking and custodial services and is active in the treasury and capital markets. HDFC also markets project advisory services and capital market products such as Global Deposit Receipts, Euro currency loans, and Euro currency bonds.

There is potential upside of 6.6% for shares of HDFC Bank based on a current price of $69.45 and an average consensus analyst price target of $74.00. HDFC Bank shares have support at the 50-day moving average (MA) of $59.73 and additional support at the 200-day MA of $59.53.

SmarTrend recommended that subscribers consider buying shares of HDFC Bank on March 2nd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $56.49. Since that recommendation, shares of HDFC Bank have risen 22.9%. We continue to monitor HDB for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows hdfc bank

Ticker(s): HDB