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Schwab (Charles) Rises 8.47% on Heavy Volume: Watch For Potential Pullback

By David Diaz

Schwab (Charles) (NYSE:SCHW) traded in a range yesterday that spanned from a low of $48.51 to a high of $50.97. Yesterday, the shares gained 8.5%, which took the trading range above the 3-day high of $44.81 on volume of 9.0 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of Schwab (Charles) have traded between a low of $34.58 and a high of $50.97 and are now at $48.54, which is 40% 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 0.4%.

SmarTrend recommended that subscribers consider buying shares of Schwab (Charles) on October 15th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $39.25. Since that recommendation, shares of Schwab (Charles) have risen 14.0%. We continue to monitor SCHW for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders schwab (charles)

Ticker(s): SCHW