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SmarTrend Watching for Potential Rebound in Shares of Fifth Third Banc After 1.86% Loss

By James Quinn

Fifth Third Banc (NASDAQ:FITB) traded in a range yesterday that spanned from a low of $25.92 to a high of $26.39. Yesterday, the shares fell 1.9%, which took the trading range below the 3-day low of $26.09 on volume of 1.8 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Fifth Third Banc has traded in a range of $16.14 to $28.97 and is now at $25.98, 61% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 1.2%.

SmarTrend recommended that subscribers consider buying shares of Fifth Third Banc on June 12th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $25.23. Since that recommendation, shares of Fifth Third Banc have risen 4.7%. We continue to monitor FITB for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders fifth third banc

Ticker(s): FITB