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Watch for Continued Gains in Shares of East West Bancorp (EWBC)

By Nick Russo

East West Bancorp (NASDAQ:EWBC) traded today at a new 52-week high of $57.57. Approximately 184,000 shares have changed hands today, as compared to an average 30-day volume of 916,000 shares.

East West Bancorp (NASDAQ:EWBC) has potential upside of 3.7% based on a current price of $57.52 and analysts' consensus 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.

In the past 52 weeks, East West Bancorp share prices have been bracketed by a low of $27.25 and a high of $57.57 and are now at $57.52, 111% above that low price. 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%.

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 5.9%. 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