• Return to Headlines

Fifth Third Bancorp Rises 2.77% on Heavy Volume: Watch For Potential Pullback

By Amy Schwartz

Fifth Third Bancorp (NASDAQ:FITB) traded in a range yesterday that spanned from a low of $19.87 to a high of $20.44. Yesterday, the shares gained 2.8%, which took the trading range above the 3-day high of $20.16 on volume of 6.7 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Fifth Third Bancorp has traded in a range of $13.84 to $21.93 and is now at $20.39, 47% above that low. 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 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.

Keywords: rebounders fifth third bancorp

Ticker(s): FITB