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International Bancshares (IBOC) Breaks Through Support at $17.38

Written on Wed, 07/28/2010 - 11:55am
By Chip Brian

SmarTrend has detected shares of International Bancshares (NASDAQ:IBOC) have bearishly opened below the pivot of $17.62 today and have reached the first level of support of $17.38.
Should the shares continue to fall, we are monitoring the next support pivots of $17.19 and $16.76. Also, the shares are currently trading below the 50-day moving average of $18.10 and below the 200-day moving average of $19.54.
SmarTrend, our proprietary pattern recognition system, alerted subscribers to sell shares of International Bancshares on May 05, 2010 at $22.35. Since the call, the stock has fallen 22.3%.

Keywords: international bancshares pivot points

Ticker(s): IBOC

Contact Chip Brian



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