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Schwab (Charles) (SCHW) Crosses Pivot Point Resistance at $52.22

By James Quinn

Schwab (Charles) (NYSE:SCHW) has opened bullishly above the pivot of $51.42 today and has reached the first level of resistance at $52.22. Should the shares continue to rise, the resistance pivots of $53.39 and $55.36 will be of interest.

Over the past year, Schwab (Charles) has traded in a range of $23.82 to $58.11 and is now at $52.13, 119% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.1% while the 200-day MA has slid 0.5%.

Potential upside of 16.6% exists for Schwab (Charles), based on a current level of $52.13 and analysts' average consensus price target of $60.78. Schwab (Charles) shares have support at the 200-day moving average (MA) of $29.65 and additional support at the 50-day MA of $27.81.

SmarTrend is tracking the current trend status for Schwab (Charles) and will alert subscribers who have SCHW in their portfolio or watchlist when shares have changed trend direction.

Keywords: pivot alerts schwab (charles)

Ticker(s): SCHW