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Recent 52-Week High Exceeded in Shares of East West Bancorp (EWBC)

By Nick Russo

East West Bancorp (NASDAQ:EWBC) traded today at a new 52-week high of $59.50. Approximately 332,000 shares have changed hands today, as compared to an average 30-day volume of 916,000 shares.

There is potential upside of 1.2% for shares of East West Bancorp based on a current price of $58.93 and an average consensus analyst price target of $59.64. The stock should find initial support at its 200-day moving average (MA) of $37.92 and further support at its 50-day MA of $33.65.

East West Bancorp, Inc. is the holding company for East-West Bank. The Bank is a commercial bank specializing in commercial, construction, and real estate lending as well as financing international trade. East-West operates throughout Los Angeles, Orange, San Francisco and Santa Clara counties.

East West Bancorp share prices have moved between a 52-week high of $59.50 and a 52-week low of $27.25 and are now trading 116% above that low price at $58.93 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.8% while the 200-day MA has slid 0.4%.

SmarTrend recommended that subscribers consider buying shares of East West Bancorp on April 20th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $53.29. Since that recommendation, shares of East West Bancorp have risen 9.7%. We continue to monitor EWBC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows east west bancorp

Ticker(s): EWBC