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PrivateBancorp Trading Lower on Heavy Volume, Inline With Overall Trend (PVTB)

By Amy Schwartz

PrivateBancorp's stock is up 22.0% to $43.84 on heavy trading volume. About 2.0 million shares have been traded today, as compared to the 30-day average volume of 598,000 shares. Spikes in volume can validate a breakout or signify a potential turning point.

SmarTrend recommended that its subscribers protect gains by selling shares of PrivateBancorp on June 13th, 2016 by issuing a Downtrend alert when the shares were trading at $41.25. Since that call, shares of PrivateBancorp have fallen 12.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

In the past 52 weeks, shares of PrivateBancorp have traded between a low of $31.18 and a high of $45.79 and are now at $43.84, which is 41% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.4%.

Keywords: unusual volume privatebancorp

Ticker(s): PVTB