Fifth Third Bancorp (FITB) Breaks Through Resistance at $20.03
Shares of Fifth Third Bancorp (NASDAQ:FITB) opened today above their pivot of $19.81 and have already reached the first level of resistance at $20.03. Should the shares continue to rise, the resistance pivots of $20.20 and $20.59 will be of interest.
In the past 52 weeks, Fifth Third Bancorp share prices have been bracketed by a low of $13.84 and a high of $21.93 and are now at $20.11, 45% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 1.2%.
Fifth Third Bancorp (NASDAQ:FITB) has potential upside of 9.3% based on a current price of $20.11 and analysts' consensus price target of $21.99. The stock should discover initial support at its 200-day moving average (MA) of $18.59 and subsequent support at its 50-day MA of $17.20.
SmarTrend recommended that subscribers consider buying shares of Fifth Third Bancorp on July 29th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $18.94. Since that recommendation, shares of Fifth Third Bancorp have risen 4.9%. We continue to monitor FITB for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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