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Bryn Mawr Bank (BMTC) Reaches Initial Support Level, Watch for 0.78% Additional Downside

Written on Thu, 05/20/2010 - 9:22am
By Chip Brian

SmarTrend has detected shares of Bryn Mawr Bank (NASDAQ:BMTC) have bearishly opened below the pivot of $18.02 today and have reached the first level of support of $17.66.
Should the shares continue to fall, we are monitoring the next support pivots of $17.44 and $16.87. Also, the shares are currently trading above the 200-day moving average of $16.98 and should find resistance at the 50-day moving average of $18.47.
SmarTrend, our proprietary pattern recognition system, alerted subscribers to buy shares of Bryn Mawr Bank on May 13, 2010 at $19.55. Since the call, the stock has risen -10.1%.

Keywords: bryn mawr bank pivot points

Ticker(s): BMTC

Contact Chip Brian



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