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Itau Unibanco Holding SA Crosses Below its 10-day MA (ITUB)

By Shiri Gupta

Today, shares of Itau Unibanco Holding SA (NYSE:ITUB) have crossed bearishly below their 10-day moving average of $11.86 on a volume of 3.0 million shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, shares of Itau Unibanco Holding SA have traded between a low of $5.48 and a high of $12.93 and are now at $11.29, which is 106% above that low price. Over the last five market days, 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 26.8%. 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