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PrivateBancorp Crosses Below its 10-day MA (PVTB)

By Nick Russo

Today, shares of PrivateBancorp (NASDAQ:PVTB) have crossed bearishly below their 10-day moving average of $43.36 on a volume of 107K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

PrivateBancorp share prices have moved between a 52-week high of $45.79 and a 52-week low of $31.18 and are now trading 35% above that low price at $42.23 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.4%.

SmarTrend recommended that subscribers consider buying shares of PrivateBancorp on March 2nd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $36.24. Since that recommendation, shares of PrivateBancorp have risen 22.4%. We continue to monitor PVTB for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses privatebancorp

Ticker(s): PVTB