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PrivateBancorp Bullish Moving Average Crossover Alert (PVTB)

By Shiri Gupta

Today, shares of PrivateBancorp (NASDAQ:PVTB) have crossed bullishly above their 10-day moving average of $38.96 on a volume of 7.7 million shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

In the past 52 weeks, shares of PrivateBancorp have traded between a low of $31.18 and a high of $45.79 and are now at $44.00, which is 41% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.4% while the 200-day MA has remained constant.

SmarTrend recommended that its subscribers protect gains by selling shares of PrivateBancorp on June 13th, 2016 by issuing a Downtrend alert when the shares were trading at $41.25. Since that call, shares of PrivateBancorp have fallen 12.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses privatebancorp

Ticker(s): PVTB