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After Yesterday's Rally of 1.33% Shares Could Potentially Pullback

By Nick Russo

East West Bncrp (NASDAQ:EWBC) traded in a range yesterday that spanned from a low of $66.24 to a high of $67.60. Yesterday, the shares gained 1.3%, which took the trading range above the 3-day high of $66.54 on volume of 476,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend recommended that subscribers consider buying shares of East West Bncrp on September 21st, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $57.64. Since that recommendation, shares of East West Bncrp have risen 14.3%. We continue to monitor EWBC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

In the past 52 weeks, shares of East West Bncrp have traded between a low of $31.34 and a high of $67.60 and are now at $67.02, which is 114% above that low price. The 200-day and 50-day moving averages have moved 0.41% lower and 1.77% higher over the past week, respectively.

Keywords: rebounders east west bncrp

Ticker(s): EWBC