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Fifth Third Banc Set to Possibly Rebound After Yesterday's Selloff of 1.86%

By David Diaz

Fifth Third Banc (NASDAQ:FITB) traded in a range yesterday that spanned from a low of $25.92 to a high of $26.39. Yesterday, the shares fell 1.9%, which took the trading range below the 3-day low of $26.09 on volume of 1.8 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, shares of Fifth Third Banc have traded between a low of $16.14 and a high of $28.97 and are now at $25.98, which is 61% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.2% while the 200-day MA has slid 0.4%.

SmarTrend recommended that subscribers consider buying shares of Fifth Third Banc on June 12th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $25.23. Since that recommendation, shares of Fifth Third Banc have risen 4.7%. We continue to monitor FITB for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders fifth third banc

Ticker(s): FITB