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SmarTrend Watching for Pullback in Shares of United Bankshares After 2.60% Gain (UBSI)

Written on Wed, 07/28/2010 - 3:56am
By Chip Brian

United Bankshares (NASDAQ:UBSI) traded in a range yesterday that spanned from a low of $26.67 to a high of $27.25. Yesterday, the shares gained 2.60%, which took the trading range above the 3-day high of $26.60 on volume of 271,000 shares.
Shares of United Bankshares are currently trading above their 50-day moving average (MA) of $25.94 and above their 200-day MA of $23.68. Look for these MAs to provide support for a short-term pullback in the shares.
SmarTrend is bullish on shares of United Bankshares and our subscribers were alerted to Buy on July 13, 2010 at $25.57. The stock has risen 6.4% since the alert was issued.
SmarTrend has the shares in an Uptrend and expects the share price to pullback toward the $26.60 support level. Afterwards, we expect it to move upward with its peers in the SmarTrend Regional Banks- Mid Atlantic industry.

Keywords: united bankshares trading range stock news

Ticker(s): UBSI

Contact Chip Brian



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