Washington Federal (NASDAQ:WFSL) traded in a range yesterday that spanned from a low of $17.55 to a high of $17.86. Yesterday, the shares gained 0.23%, which took the trading range above the 3-day high of $17.57 on volume of 414,000 shares.
Shares of Washington Federal are currently trading above their 50-day moving average (MA) of $17.05 and should find resistance at their 200-day MA of $18.71. Look for these MAs to provide support for a short-term pullback in the shares.
SmarTrend is bullish on shares of Washington Federal and our subscribers were alerted to Buy on July 21, 2010 at $17.33. The stock has risen 1.5% since the alert was issued.
SmarTrend has the shares in an Uptrend and expects the share price to pullback toward the $17.57 support level. Afterwards, we expect it to move upward with its peers in the SmarTrend Savings & Loans industry.