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Schwab (Charles) (SCHW) Crosses Pivot Point Resistance at $59.20

By Amy Schwartz

Schwab (Charles) (NYSE:SCHW) has opened bullishly above the pivot of $58.94 today and has reached the first level of resistance at $59.20. Analysts will be watching for a cross of the next upside pivot targets of $59.54 and $60.14.

There is potential upside of 3.0% for shares of Schwab (Charles) based on a current price of $58.87 and an average consensus analyst price target of $60.62. The stock should discover initial support at its 200-day moving average (MA) of $29.65 and subsequent support at its 50-day MA of $27.81.

In the past 52 weeks, Schwab (Charles) share prices have been bracketed by a low of $23.82 and a high of $59.94 and are now at $58.87, 147% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has advanced 1.1%.

SmarTrend recommended that subscribers consider buying shares of Schwab (Charles) on April 20th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $54.50. Since that recommendation, shares of Schwab (Charles) have risen 8.0%. We continue to monitor SCHW for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: pivot alerts schwab (charles)

Ticker(s): SCHW