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SmarTrend Watching for Potential Rebound in Shares of Fifth Third Banc After 2.00% Loss

By Nick Russo

Fifth Third Banc (NASDAQ:FITB) traded in a range yesterday that spanned from a low of $26.65 to a high of $27.82. Yesterday, the shares fell 2.0%, which took the trading range below the 3-day low of $27.11 on volume of 4.8 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 Banchas traded in a range of $26.73 to $34.67 and are now at $26.79. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has declined 0.4%.

SmarTrend recommended that its subscribers protect gains by selling shares of Fifth Third Banc on May 21st, 2018 by issuing a Downtrend alert when the shares were trading at $31.20. Since that call, shares of Fifth Third Banc have fallen 12.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders fifth third banc

Ticker(s): FITB