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SmarTrend Watching for Potential Pullback in Shares of Us Bancorp After 1.96% Gain

By David Diaz

Us Bancorp (NYSE:USB) traded in a range yesterday that spanned from a low of $53.65 to a high of $54.12. Yesterday, the shares gained 2.0%, which took the trading range above the 3-day high of $53.44 on volume of 1.6 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Us Bancorp has traded in a range of $43.14 to $57.81 and is now at $54.06, 25% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has declined 0.6%.

SmarTrend is monitoring the recent change of momentum in Us Bancorp. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Us Bancorp in search of a potential trend change.

Keywords: rebounders us bancorp

Ticker(s): USB