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People'S United: The Losing Streak Continues (PBCT)

By James Quinn

Shares of People'S United (NASDAQ:PBCT) traded today at $16.45, breaking its 52-week low. This new low was reached on below average trading volume as 636,000 shares traded hands, while the average 30-day volume is approximately 3.2 million shares.

People's United Financial Inc. is a savings and loan holding company. The Company provides commercial, retail, and business banking, and wealth management services to individual, corporate, and municipal customers.

People'S United share prices have moved between a 52-week high of $20.26 and the current low of $16.45 and are currently at $16.55 per share. The 200-day and 50-day moving averages have moved 0.21% lower and 0.62% lower over the past week, respectively.

Potential upside of 20.5% exists for People'S United, based on a current level of $16.55 and analysts' average consensus price target of $19.94. The stock should run into initial resistance at its 50-day moving average (MA) of $18.05 and subsequent resistance at its 200-day MA of $18.69.

SmarTrend recommended that its subscribers protect gains by selling shares of People'S United on March 23rd, 2018 by issuing a Downtrend alert when the shares were trading at $18.60. Since that call, shares of People'S United have fallen 11.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows people's united

Ticker(s): PBCT