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Itau Unibanco Holding SA Bearish Moving Average Crossover Alert (ITUB)

By Nick Russo

Itau Unibanco Holding SA (NYSE:ITUB) crossed under its 10-day moving average of $11.23 on a volume of 3.9 million shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Over the past year, Itau Unibanco Holding SA has traded in a range of $5.48 to $12.93 and is now at $10.87, 98% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 2.4%.

SmarTrend recommended that subscribers consider buying shares of Itau Unibanco Holding SA on July 11th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $9.76. Since that recommendation, shares of Itau Unibanco Holding SA have risen 16.8%. We continue to monitor ITUB for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses Itau Unibanco Holding SA

Ticker(s): ITUB