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Shares of East West Bancorp Has Risen Above Previous 52-Week High

By Amy Schwartz

Shares of East West Bancorp (NASDAQ:EWBC) traded at a new 52-week high today of $59.97. Approximately 111,000 shares have changed hands today, as compared to an average 30-day volume of 916,000 shares.

In the past 52 weeks, East West Bancorp share prices have been bracketed by a low of $27.25 and a high of $59.97 and are now at $59.79, 119% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 1.8%.

Based on a current price of $59.79, East West Bancorp is currently 0.3% above its average consensus analyst price target of $59.64. The stock should discover initial support at its 200-day moving average (MA) of $37.92 and subsequent 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.

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 11.0%. 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