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Itau Unibanco Holding SA Set to Possibly Rebound After Yesterday's Selloff of 8.08%

By James Quinn

Itau Unibanco Holding SA (NYSE:ITUB) traded in a range yesterday that spanned from a low of $11.21 to a high of $11.46. Yesterday, the shares fell 8.1%, which took the trading range below the 3-day low of $11.66 on volume of 5.7 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that subscribers consider buying shares of Itau Unibanco Holding SA on July 11th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $9.76. Since that recommendation, shares of Itau Unibanco Holding SA have risen 26.8%. We continue to monitor ITUB for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

In the past 52 weeks, Itau Unibanco Holding SA share prices have been bracketed by a low of $5.48 and a high of $12.93 and are now at $11.40, 108% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 2.4%.

Keywords: rebounders Itau Unibanco Holding SA

Ticker(s): ITUB